The standard cost of Product B manufactured by Farell company includes 3 units of direct material at $5,00 per unit. During June, 29000 units of direct material are purchased at a cost of $4.7 per unit and 29,000 units of direct material are used to produced 9,400 units of Product B.

Required:

a./ Compute the total materials variance and the price and quantity variances.

b./ Repeat (a), assuming that the purchase price is $5.15, and the quantity purchased and used is 28,000 units.