The following standards have been established for a raw material used to make product P62: 
The following data pertain to a recent month's operations: 
Required:
a.What is the materials price variance for the month?
b.What is the materials quantity variance for the month?
Definitions:
Negotiation
The process of discussion aimed at reaching an agreement or compromise between two or more parties.
Win-lose
A situation or outcome in which one party's gain results directly from another party's loss, often seen in competitive or adversarial scenarios.
Aggressive
A term describing actions or behaviors characterized by boldness or assertiveness, often with the intention of achieving a specific objective or outcome.
Creative Ability
The capacity to generate innovative ideas, solutions, or artistic expressions, often characterized by originality and inventiveness.
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