4 Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 13.00 pounds 2.10 hour Standard Price or Rate $ 2.90 per pound $14.00 per hour Standard Cost $37.70 29.40 $67.10 2.5 points During June, Orion purchased 263,000 pounds of direct material at a total cost of $810,040. The total wages for June were $600,300 90 percent of which were for direct labor. Orion manufactured 18,000 dartboards during June, using 225,000 pounds of the direct material purchased in June and 41,400 direct-labor hours eBook Required Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) Print References 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance