Check 3 Huron Company produces a commercial cleaning compound known as Zoom The direct materials and direct labor standards for one unit of Zoom are given below 5 Standard Quantity or Hours 7.40 pounds 0.45 hours Direct materials Direct shor Standard Price or Rate 52.00 per pound 50.00 per hour Standard Cost $19,24 $ 3.60 During the most recent month, the following activity was recorded: 12,100.00 pounds of material were purchased at a cost of $250 per pound b. All of the material purchased was used to produce 1500 units of Zoom c575 hours of direct labor time were recorded at a total labor cost of $5.750 Required: 1 Compute the materials price and quantity variances for the month 2 Comoute the labor rate and efficiency vanances for the month For all requirements. Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no offect the zero variance). Input all amounts as positive values. Round your intermediate colculations to the nearest whole dollar) UIZ-CH 10 Exercises & Problems Saved Help Save ch 3 Direct labor 0,45 hours $8.00 per hour During the most recent month, the following activity was recorded 275 om a 1210000 pounds of material were purchased at a cost of $250 per pound b. All of the material purchased was used to produce 1500 units of Zoom c575 hours of direct labor time were recorded at a total labor cost of $5,750 Required: 1 Compute the matertais 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 offect (le, zero variance), Input all amounts os positive values. Round your intermediate calculations to the nearest whole dollar) 1 Materials price variance Materials quantity variance Laboral variance Labor ciency Variance