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The following information is available for Chads Chocolates: Actual production 2,800 boxes Budgeted production 3,900 boxes Direct Materials Standard 1.5 pounds of chocolate per box

The following information is available for Chads Chocolates:

Actual production 2,800 boxes
Budgeted production 3,900 boxes

Direct Materials
Standard 1.5 pounds of chocolate per box @ $8.01 per pound
Actual 6,700 pounds purchased @ $7.55 per pound
5,010 pounds used @ $7.55 per pound

(a) Calculate the direct materials price and quantity variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter 0 for the amounts.)

Direct material price variance $
Direct material quantity variance $

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