Betty's Bakery has the following standard cost sheet for one unit of its most popular cake:

 SQ SP Direct materials 1.2 pounds $1.50per pound Direct labor 0.8 hours $12.00 per hour 

During the month of May, the company made 700 cakes and incurred the following actual costs.

Direct materials purchased and used (1,000 pounds) $1,300

Direct labor (760 hours) $8,740

Required:

(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).)

1.Calculate the direct materials price variance.

2.Calculate the direct materials quantity variance.

3.Calculate the direct materials variance.

4.Calculate the direct labor rate variance.

5.Calculate the direct labor efficiency variance.

6.Calculate the direct labor spending variance.