Please see the below for the most recent month activity:

	Standard Quantity or Hours	Standard Cost
Direct materials	4.6 pounds	$11.50

a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.

b. The company produced only 3,000 units using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.)

Please compute the materials price and quantity variances for the month.