Camps Inc.has a standard cost system.The standards for direct materials for one of its products specify 4.4 ounces of a particular input per unit of output at a standard cost of $6.40 per ounce.The company has reported the following actual results for the product for May: 
Required:
a.Compute the materials price variance for this input for May.
b.Compute the materials quantity variance for this input for May.
Definitions:
Self-Esteem
An individual's subjective evaluation of their own worth, including feelings of confidence, respect, and value.
Scaffolding
An educational approach involving more skilled others providing temporary support to help learners achieve higher levels of comprehension or skill than they would independently.
Vygotsky
Lev Vygotsky was a Soviet psychologist who developed a sociocultural approach to cognitive development.
Self-Fulfilling Prophecy
A belief or expectation that influences one’s actions in a way that causes the belief to become a reality, thereby confirming itself.
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