13. The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output...... Standard price of the material 2.7 pounds $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased. 5,200 pounds Actual cost of material purchased.. $82,680 Actual material used in production. 4,600 pounds Actual output.. 1.760 units of product N04 Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? c. What are the possible causes of the price variance and quantity variance