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The following standards have been established for a raw material used to make product O 8 4 : Standard quantity of the material per unit

The following standards have been established for a raw material used to make product O84:
Standard quantity of the material per unit of output 7.9 meters
Standard price of the material $ 19.00 per meter
The following data pertain to a recent month's operations:
Actual material purchased 4,200 meters
Actual cost of material purchased $ 84,420
Actual material used in production 3,900 meters
Actual output 580 units of product O84
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?
(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.)
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