Mini$-$Exercise $15-3($Algo$)$ Direct material variances LO $15-4,15-5$

Acme Company's production budget for August is $18,900$ units and includes the following component unit costs: direct materials, $$7\mathrm{.}20$; direct labor, $$11\mathrm{.}40$; variable overhead, $$5\mathrm{.}40.$ Budgeted fixed overhead is $$46,000.$ Actual production in August was $21,840$ units. Actual unit component costs incurred during August include direct materials, $$9\mathrm{.}60$; direct labor, $$10\mathrm{.}80$; variable overhead, $$6\mathrm{.}20.$ Actual fixed overhead was $$48,900.$ The standard direct material cost per unit consists of $8$ pounds of raw material at $$0\mathrm{.}90$ per pound. During August, $262,080$ pounds of raw material were used that were purchased at $$0\mathrm{.}80$ per pound.

Required:

Calculate the materials price variance and materials usage variance for August.

Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[$Material price variance,$],[$Material usage variance,$]]$