AtEspresso, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $56. Standards call for2.0relays per unit of finished product. In July, the company purchased141relays for $8,037. The company used103relays in the production of52refrigeration units (4relays 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 0 decimal places, e.g. 125. Enter all variances as a positive number.)

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