At Dynatech, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $55. Standards call for 3.0 relays per unit of finished product. In July, the company purchased 142 relays for $8,236. The company used 105 relays in the production of 50 refrigeration units (4 relays were damaged in the installation process). Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to O decimal places, e.g. 125. Enter all variances as a positive number.) Material Price Variance ta Material Quantity Variance $ Favorable Unfavorable Neither Unfavorable nor Favorable Canarie Jewelry produced 1,530 rings during March. The standard cost of each ounce of gold used in a ring is $1,000 per ounce. The standard quantity of material for each ring is a half ounce of gold per ring. The cost of gold purchased and used in March was $749,000 at $1,070 per ounce. Determine the material price variance and the material quantity variance for March. Indicate whether each variance is favorable or unfavorable. (Enter all variances as a positive number.) Material price variance $ Material quantity variance $ Favorable Neither Unfavorable nor Favorable Unfavorable