The following direct materials data pertain to the operations of Blue Spruce Co. for the month of December Standard materials price Actual quantity of materials purchased and used $5.00 per pound 17.450 pounds The standard cost card shows that a finished product contains 4 pounds of materials. The 17,450 pounds were purchased in December at a discount of 4% from the standard price. In December, 4,220 units of finished product were manufactured Calculate the materials variances. Identify whether each variance is favorable or unfavorable $ Materials Price Variance S Materials Quantity Variance $ Total Materials Variance