A local manufacturing firm constructs water tanks for suburban households.

Budgeted costs for the company's basic water tank are as follows:

Standard Usage Standard Price

DirectLabour 2 hrs(per unit) $28 (per hr)

DirectMaterial 11lineal metres (per unit) $4 (per mt)

Staff at the firm produced 60 tanks during the last month. Direct Labour was paid during the month was 2,960 with workers logging 95 direct labour hours. In making the 60 water tanks 476 lineal metres of direct materials was consumed which were purchased for $2,133.

Calculate the total material and labour variance for the past month.

(Calculate and record your answer to the nearest even $. Please note that favourable variances will be a negative amount and unfavourable variances will appear as a positive amount)