Managerial Accounting: E6-11 The following information is available for Chad's Chocolates

Managerial Accounting
E6-11
The following information is available for Chad’s Chocolates:
Actual production 3,070
Budgeted production 3,550 boxes
Direct Materials
Standard 1.5 pounds of chocolate per box @ $8.02 per pound
Actual 6,620 pounds purchased @ $7.53 per pound
5,045 pounds used @ $7.53 per pound

(a) Calculate the direct materials price and quantity variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter 0 for the amounts.)
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