A company has the following standard cost for its product Standard Quantity Standard Price Direct material Direct labor 1.2 $ 1.50 0.8 $12.00 In one month, the company manufactured 960 units. Actual used Direct material 1,460 Direct labor 1,020 Actual cost $1,898 $11,730 Required: Calculate the variances. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance).) 1. Direct materials price variance 2 Direct materials quantity variance 3 Total direct materials spending variance