The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output 8.3 Standard price of the material $19.50 The following data pertain to a recent month's operations: Actual material purchased 4,600 meters Actual cost of material purchased $ 93,840 Actual material used in production 4,300 Actual output 620 units of product 084 The direct materials purchases variance is computed when the materials are purchased. meters Required: 1. What is the materials price variance for the month? 2. What is the materials quantity variance for the month? meters per meter