Ch 9 Homework 0 You skpped this question in the previous atempt. Exercise 9-17 Direct Materials and Direct Labor Variances [LO9-4, LO9-5] Dawson Toys, Lid, produces a toy cailed the Maze. The company has recenty created a standard cost system to help control costs and has established the following standards for the Maze toy 2 Direct materials: 7 microns per toy at S0 31 per micron Direct labor 14 hours per toy at $6.70 per hour During July, the company produced 4 500 Maze toys. The toy's production data for the month are as folows Direct materials 79,000 microns were purchased at a cost of $0 28 per micron 39,625 of these microns were sti in inventory at the Dwect labor 6,800 direct labor-hours were worked at a cost of $47600 Required: end of the month 1 Compute the tollowing vaniances for Juily: Ondicete the effect of esch veriance by selecting "F" for favorable, "U" for unfevorable, and "None" for no effect Ge., zero varience), Input ell amounts as positive values. Do not round intermediate coiculetions. Round final answers to the nearest whole dollar amount.) a. The materials price and quantity variances b. The labor rate and efficiency variances Material price Material quantity variance eficieny variance