A company has the following standard cost for its product: Standard Quantity Standard Price Direct material Direct labor 1.2 0.8 $ 1.50 $12.00 In one month, the company manufactured 760 units. Direct material Actual used 1,060 Direct labor 820 Required: Actual cost $1,378 $9,430 Help Calculate the variances. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for ro effect (i.e., zero variance).) 1. Direct materials price variance. 2. Direct materials quantity variance 3. Total direct materials spending variance