The standard cust of Product 8 manufactured by Pharrell Company includes 2.2 units of direct materials at $.60 per unit: Ouring June. 26.700 units of direct materials are purchased at a cost of $5.35 per unit and 26.700 units of direct materiats are used to produce 12.000 units of Product . (a) Compute the total materials variance 1 nd the price and quantity variances. (b) Compute the total noterials variance and the price and quantity variances, assuming the purchase price is $5,70 and the puantity purchased and used is 26,900 units. The standard cust of Product 8 manufactured by Pharrell Company includes 2.2 units of direct materials at $.60 per unit: Ouring June. 26.700 units of direct materials are purchased at a cost of $5.35 per unit and 26.700 units of direct materiats are used to produce 12.000 units of Product . (a) Compute the total materials variance 1 nd the price and quantity variances. (b) Compute the total noterials variance and the price and quantity variances, assuming the purchase price is $5,70 and the puantity purchased and used is 26,900 units