The standard cost of Product B manufactured by Sheridan Company includes 3 units of direct materials at $7.00 per unit. During June, 33,400 units of direct materials are purchased at a cost of $6,70 per unit, and 33,400 units of direct materials are used to produce 10,920 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Compute the total materials variance and the price and quantity variances, assuming the purchase price is $7.15 and the quantity purchased and used is 32,600 units