The following material standards have been established for Product C Description Standard quantity per units of output Standard price Amount 40 feet $6.25 per foot The following data pertain to actual operations concerning Product C for the last month: Description Amount Actual materials purchased 7,000 feet Actual cost of materials purchased $45,500 Actual materials used in production 6,700 feet Actual output 160 units Question Select Your Answer What is the materials quantity variance for the month? What is the materials price variance for the month