The following standards have been established for a raw material used to make product 084 Standard quantity of the material per unit of output Standard price of the material 8.5 meters $19.70 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,800 meters 98,880 4,500 meters 640 units of product 084 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? a. Materials price variance b. Materials quantity variance