A company's standard cost system requires $7,000$ direct labor hours per month jg qtier taproduce $3,500$ units of handbags. The management has set $2$ tatto $4\mathrm{.}3$ yards of direct matenals per unit of handbag Information regarding standard costs is mentioned below

Particulars

Amount

Total standard direct materials cost

$$54\mathrm{.}250$

Total standard direct labor cost

$$42,000$

Total standard variable mufacturing overhead

$($based on direct labor$-$hours$)$

$$18\mathrm{.}200$

During November the company produced $3,600$ wits of handbags using $6960$ direct labor hours. Actual cots recordad isthe month of Novembrows

Particulars

Amount

Total actual cdienct materials cost

$564,800$

Total actual direct labor cost

Total actual variacting everhead

$$52\mathrm{.}200$

$$24,360$

The company used $21600$ yards of materials to produce $3,600$ unis of handbags Maternals purchased during the month were used in production

Requirement Determine the direct materiale price variance and direct labor eficiency valance $($Rousd all he niemundiste caleslations to $2$ decimal places