The following direct materials data pertain to the operations of Bramble Co. for the month of December. Standard materials price $5.00 per pound Actual quantity of materials purchased and used 17.500 pounds The standard cost card shows that a finished product contains 4 pounds of materials. The 17,500 pounds were purchased in December at a discount of 4% from the standard price. In December, 4.240 units of finished product were manufactured. Calculate the materials variances. Identify whether each variance is favorable or unfavorable. Materials Price Variance $ Materials Quantity Variance $ Total Materials Variance $