PP Ltd operates a standard absorption costing system. The following information has been extracted from the standard cost card for one of its products:

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Budgeted production Direct material cost: Actual results for the period were as follows: Production 1500 units 7 kg x 4.10 28.70 per unit Direct material (purchased and used): 1600 units 12 000 kg x 52 200 It has subsequently been noted that due to a change in economic conditions the best price that the material could have been purchased for was 4.50 per kg during the period. Required 1 Calculate the material price planning variance. 2 Calculate the operational material usage variance.