Lewis Companys standard labor cost of producing one unit of Product DD is 3.80 hours at the rate of $11.00 per hour. During August, 40,600 hours of labor are incurred at a cost of $11.12 per hour to produce 10,500 units of Product DD. Compute the labor price and quantity variances, assuming the standard is 4.20 hours of direct labor at $11.29 per hour.