The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 10.1 pounds $17.60 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased 7,650 pounds $120,390 7,485 pounds 670 units Actual materials used in production Actual output The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zera variance). Input all amounts as positive values.

The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price varlance for the month? b. What is the materials quantity variance for the month? Note: Indicate the effect of each variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect (i.e., zers variance), Input all amounts as positive values