Materials Variances Cinturon Corporation produces high-qualify leather belte. The companyy plant in Bolse uses a btandard costing systemp bod has set the following standards for materials and labor. During the first month of the yeac, the Boise plant produced 92,000 beits. Actual leather purchased was 287 , 500 strips at 33 . 65 per strit. There were he beeinning or ending invertorles of leathec. Actual direct laber was 78.200 hours at 312.50 per hour. Required: 1. Break down the total varance for matarias into a price variance and a usage variance taird the columnar and formala agoroaches