The following information is available for Waterway's Chocolates:

Actual production 4,800 boxes Budgeted production 3,330 boxes

Direct Materials Standard 2 pounds of chocolate per box @ $5.00 per pound Actual 8,600 pounds purchased @ $5.10 per pound 9,100 pounds used

(a) Calculate the direct materials price and quantity variances.

Direct material price variance $enter the direct material price variance in dollars select an option Direct material quantity variance $enter the direct material quantity variance in dollars select an option