The following standards have been established for a raw material used to make product OB4 Standard quantity of the material per unit of output Standard price of the material 7 meters $19.00 per meter 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 4, 100 sters $ 1.590 3, 300 meters 570 units of product 064 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for variance). Input all amounts as positive values.) effect (.e., zero a Materials price variance b. Materials quantity variance