The following standards have been established for a raw material used to make product O84:

Standard quantity of the material per unit of output		8.5	meters
Standard price of the material	$	19.70	per meter

The following data pertain to a recent month's operations:

Actual material purchased		4,800	meters
Actual cost of material purchased	$	98,880
Actual material used in production		4,500	meters
Actual output		640	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?