The standard cost of Product B manufactured by Oriole Company includes 3.8 units of direct materials at $6.30 per unit. During June, 27,000 units of direct materials are purchased at a cost of $6.20 per unit, and 27,000 units of direct materials are used to produce 7,000 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance EA 2700 Favorable Materials price variance 2520 Favorable Materials quantity variance $ 180 Unfavorable (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $6.35 and the quantity purchased and used is 26,700 units. Total materials variance Materials price variance Materials quantity variance A +A 7664 Unfavorable 2700 Unfavorable 4964 Unfavorable