The following direct materials data pertain to the operations of Grouper Co. for the month of December. Standard materials price Actual quantity of materials purchased and used The standard cost card shows that a finished product contains 4 pounds of materials. The 16,690 pounds were purchased in December at a discount of 4% from the standard price. In December, 4.050 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 $ $ $5.00 per pound 16,690 pounds $