The normal capacity of the Malloy Company is 32,000 direct labor hours and 15,000 units per month. A finished unit requires 12 pounds of materials at an estimated cost of $2.00 per pound. The estimated cost of labor is $16.00 per hour. It is estimated that overhead for a month will be $25,000.

During the month of June, 31,000 direct labor hours were worked at an average rate of $17.50 an hour. The number of units produced was 14,000, using 184,000 pounds of material at a cost of $2.10 per pound.

Required:

Calculate the material and labor variances.