Marshall Jewelry produced 1,500 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 $767,600 at $1,010 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		$_____enter a dollar amount		select an option ------> Unfavorable, Favorable, Neither Unfavorable nor Favorable
Material quantity variance		$_____enter a dollar amount		select an option --------> Unfavorable Favorable, Neither Unfavorable nor Favorable