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 1150 1150 Y Unfavorable Unfavorable Materials price variance 4230 4230 Unfavorable Materials quantity variance 3080 Favorable