Question 2 of 6 -/1 MI View Policies Current Attempt in Progress Tarjee Jewelry produced 1,350 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 $799,200 at $1.080 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 $ Material quantity variance Unfavorable Favorable Neither Urfavorable nor Favorable