The standard cost of product 777 includes 2.5 units of direct materials at $6.8 per unit. During August, the company bought 28,700 units of materials at $6.95 and used those materials to produce 11,700 units. Compute the total, price, and quantity variances for materials.

Total materials variance		$		FavorableNeither favorable nor unfavorableUnfavorable
Materials price variance		$		Neither favorable nor unfavorableUnfavorableFavorable
Materials quantity variance		$