The following information applies to Company A$\text{'}$s materials cost.

Actual Cost: $4,100$Ibs. @ $$5\mathrm{.}07$ per lb$.=$ $$20,787$

Standard Cost: $4,000$lbs$.$ @ $$5\mathrm{.}00$ per lb$.=$ $$20,000$

Direct Materials Cost Varianoe: $$787$

Calculate the price and quantity variance.