Zenith Corporation set the following standards for direct materials for 2022. The material is Chemical Z used in a product manufactured by the company. 1,200 ounces of Chemical Z per unit at a standard cost of $0.50 per ounce At the end of 2022, the company reported the following actual results related to direct materials. Purchased 218,000 ounces of Chemical Z at $0.52 per ounce Used 216,000 ounces of Chemical Z to produce 180 units Required: Calculate the direct material price variance and direct material quantity variance (show work and clearly label each answer). Note that the amount purchased does not equal the amount used in this problem; therefore, you must use the 4-line approach shown in class