The following standards have been established for a raw material used to make product O84:

Standard quantity of the material per unit of output 7.9 meters Standard price of the material $ 19.00 per meter The following data pertain to a recent month's operations:

Actual material purchased 4,200 meters Actual cost of material purchased $ 84,420 Actual material used in production 3,900 meters Actual output 580 units of product O84 The direct materials purchases variance is computed when the materials are purchased.

Required: What is the materials price variance for the month? What is the materials quantity variance for the month? Note: 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.