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The following direct materials data pertain to the operations of Martinez Co$.$ for the month of December.

Standard materials price

$$5\mathrm{.}00$ per pound

Actual quantity of materials purchased and used

$16,750$ pounds

The standard cost card shows that a finished product contains $4$ pounds of materials. The $16,750$ pounds were purchased in December at a discount of $4\%$ from the standard price. In December, $4,070$ units of finished product were manufactured.

Calculate the materials variances. Identify whether each variance is favorable or unfavorable.

Materials Price Variance

$.$

Materials Quantity Variance

$

Total Materials Variance

$

$$

$$

$$

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