The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 8.3 grams $19.15 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 7,500 grams $141,375 7,100 grams 700 units a. What were the materials variances for the month? Clearly indicate whether they were Favourable(F), or Unfavourable (U) [10 marks] STD: Input: Output: AQ X AP AQ x SP SQ X SP AQU X SP