The following materials standards have been established for a particular product: 8.5 grams Standard quantity per unit of output Standard price $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 7.500 grams $141,375 7,100 grams 700 units Actual materials used in production Actual output a. What were the materials variances for the month? Clearly indicate whether they were Favourable(F), or Unfavourable (U) [10 marks] STD:8.5grams@ $19.15per gram Input: DM Output:700 units AQ X AP AQ x SP SQ XSQ AQU X SP