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27 pints 02:26:33 TB Problem Qu. 9-407 (Algo) The following standards have been... The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? 3,800 meters 3,500 meters 540 units of product 084 The direct materials purchases variance is computed when the materials are purchased. $74,480 a. Materials price variance b. Materials quantity variance 7.5 meters $18.70 per meter (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)