Materials price and quantity variances (LO2, LO3). Tom and Lynda own Hercules Health Club. For August, they forecasted gym membership at 972 members. Tom and Lynda expect to go through 1 towel (at a...

Materials price and quantity variances (LO2, LO3). Tom and Lynda own Hercules Health Club. For August, they forecasted gym membership at 972 members. Tom and Lynda expect to go through 1 towel (at a cost of $3 per towel) per four members each month. Actual results for August show that Hercules had 969 members. Hercules bought (and used) 270 new towels for April at a cost of $837.

Required:

What are Hercules’ towel price and quantity variances for August?