The following materials standards have been established for a particular product:

Standard quantity per unit of output

standard price

$9\mathrm{.}4$ pounds

$$16\mathrm{.}90$ per pound

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

$7,300$ pounds

$$116,435$

$7,100$ pounds

$740$ units

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$.,$ zero

variance$).$ Input all amounts as positive values.