Problem 4 A company has provided the following data conceming one of the products in its standard cost system. Inputs Standard Quantity Standard Price per unit of Output Direct materials 8.0 ounces $8.10/ounce The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual cost of raw materials purchased 6,500 units 62,350 ounces $ 386,210 Raw materials used in production 52,020 ounces A) Compute the materials price variance for April. B) Compute the materials quantity variance for April