The standard cost of Product B manufactured by Wildhorse Company includes 3.5 units of direct materials at $5.40 per unit. During June, 27,300 units of direct materials are purchased at a cost of $5.15 per unit, and 27,300 units of direct materials are used to produce 7.700 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials varlance 4935 1 Favorable Materials price variance $ 6825 i Favorable Materials quantity variance $ 1890 Unfavorable > (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.50 and the quantity purchased and used is 26,800 units. Total materials variance 4620 Favorable Materials price variance $ Materials quantity variance $