Quality Cabinet Company uses a standard costing system and produced 2, 070 cabinets during May. The standard cost of wood is $22 per linear foot, and the standard quantity for each cabinet is 28 linear feet. During May, the company purchased 61, 260 linear feet of wood for $1, 225, 200, and 59, 460 feet were used in production. The company purchases all materials on account. Determine the material price variance and the material quantity variance. (Enter all variances as a positive number.) Record the related journal entries for May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)