At Grange, the standard price for the M640 electrical relay ( a component used in the production of a commercial refrigeration unit) is $58. Standards all for 3.0 relays per unit of finished product. In July, the company purchased 151 relays for $9,060. The company used 108 relays in the production of 54 refrigeration units ( 4 relay were demaged in the installation process). Calculate the material price variance and material quantity variance related to the M640 electrical relay. Indicate whether the variance are favorable or unfavorable.