The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 5.0 grams $12.00 per grams 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 2,600 grams $ 30,290 1,900 grams 350 units The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance.) Materials price variance b. What is the materials quantity variance for the month? (Input the amount a as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) a Materials quantity variance