Trico Company set the following standard unit costs for its single product.

Direct materials (28 Ibs. @ $4.00 per Ib.)	$	112.00
Direct labor (8 hrs. @ $8.00 per hr.)		64.00
Factory overhead variable (8 hrs. @ $5.00 per hr.)		40.00
Factory overhead fixed (8 hrs. @ $7.00 per hr.)		56.00
Total standard cost	$	272.00

The predetermined overhead rate is based on a planned operating volume of 50% of the productive capacity of 70,000 units per quarter. The following flexible budget information is available.

	Operating Levels
		40%		50%		60%
Production in units		28,000		35,000		42,000
Standard direct labor hours		224,000		280,000		336,000
Budgeted overhead
Fixed factory overhead	$	1,960,000	$	1,960,000	$	1,960,000
Variable factory overhead	$	1,120,000	$	1,400,000	$	1,680,000

During the current quarter, the company operated at 60% of capacity and produced 42,000 units of product; actual direct labor totaled 331,000 hours. Units produced were assigned the following standard costs:

Direct materials (1,176,000 Ibs. @ $4.00 per Ib.)	$	4,704,000
Direct labor (336,000 hrs. @ $8.00 per hr.)		2,688,000
Factory overhead (336,000 hrs. @ $12.00 per hr.)		4,032,000
Total standard cost	$	11,424,000

Actual costs incurred during the current quarter follow:

Direct materials (1,171,000 Ibs. @ $4.10)	$	4,801,100
Direct labor (331,000 hrs. @ $7.75)		2,565,250
Fixed factory overhead costs		2,935,283
Variable factory overhead costs		2,747,925
Total actual costs	$	13,049,558

Required 1. Compute the direct materials cost variance, including its price and quantity variances.(Round actual price to 2 decimal places.) Actual Cost Standard Cost