A company produces a chemical compound that can be sold for industrial use. The direct materials and direct labor standards for one unit of the product are given below:

Standard Quantity or Hours Standard Price or Rate Standard Cost

Direct materials $7\mathrm{.}30$ pounds $ $2\mathrm{.}80$ per pound $ $20\mathrm{.}44$

Direct labor $0\mathrm{.}60$ hours $ $9\mathrm{.}00$ per hour $ $5\mathrm{.}40$

During the most recent month, the following activity was recorded:

$16,600\mathrm{.}00$ pounds of material were purchased at a cost of $$2\mathrm{.}50$ per pound.

All of the material purchased was used to produce $2,000$ units of product.

$1,000$ hours of direct labor time were recorded at a total labor cost of $$12,000.$

Required:

$1.$ Compute the materials price and quantity variances for the month.

$2.$ Compute the labor rate and efficiency variances for the month.

$($For all requirements, Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$ Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.$)$