Martinez Company provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials 10 lbs. @$4 per lbs. Produced 4,090 units Labor 3 hrs. @$21 per hr. Materials purchased Budgeted production 3,590 units Materials used 50,900 lbs. costing $218,870 41,900 lbs. Labor worked 11.180 hrs. costing $223,600 Calculate the labor price variance and the labor quantity variance. Identify whether each variance is favorable or unfavorable. Labor Price Variance Labor Quantity Variance