The play for some more Company produces toys for the national distribution standards for a particular toy are Materials: 12 grams per unit at 56 cents per gram. During the month of may, the company produced 1000 units. Information for the month follows: Materials: 14,000 grams were purchased and used at a total cost of $7,140.

a) Calculate the materials Price Variance and state if its favorable or unfavorable

b) Calculate the materials Quantity Variance and state if it is favorable or unfavorable

c)State one reason why these variances in part a) and part b) could be favorable or unfavorable