The following standards for materials have been formulated for a given product: 4.0 pounds Standard quantity per unit of output Standard price $12.00 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 2,900 pounds $ 33,785 Actual cost of materials purchased po Actual materials used in production 2,200 pounds Actual output 480 units 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 "O" 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). Omit the "$" sign in your response.) Materials price variance $ (Click to select) 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 "O" 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). Omit the "$" sign in your