Materials variances krumple inc. produces aluminum cans. production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can. during the month of april, 303,000 cans were produced using 1,240,000 ounces of aluminum. the actual cost of aluminum was $0.16 per ounce and the standard price was $0.03 per ounce. there are no beginning or ending inventories of aluminum. required: calculate the materials price and usage variances using the columnar and formula approaches. enter amounts as positive numbers and select favorable or unfavorable. materials price variance $ 37,500 unfavorable material usage variance