The following information is available for Sheridan's Chocolates: Actual production 3,550 boxes Budgeted production 3,340 boxes Direct Materials Standard Actual 3 pounds of chocolate per box @ $5.00 per pound 9,200 pounds purchased @ $5.10 per pound 9,700 pounds used (a) Calculate the direct materials price and quantity variances. Direct material price variance $ GA Direct material quantity variance