Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards.

MaterialsItemPer unitCostMetal1lb.63 per lb.Plastic12oz.$1.00per lb.Rubber4oz.88 per lb.Direct laborItemPer unitCostLabor15min.$8.00per hr.Predetermined overhead rate based on direct labor hours = $4.56

The January figures for purchasing, production, and labor are:

The company purchased215,900pounds of raw materials in January at a cost of78 a pound.Production used215,900pounds of raw materials to make109,000units in January.Direct labor spent18minutes on each product at a cost of $7.90per hour.

Overhead costs for January totaled $54,517variable and $75,000fixed.

Answer the following questions about standard costs.

Materials price variance

Materials quantity variance

Total materials variance