Check my w Exercise 9-13 Direct Materials and Direct Labor Variances [LO9-4, LO9-5) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labo standards for one unit of Zoom are given below. standard Price Standa Standard Quantity or Hours 7.90 pounds 0.50 hours or Ratece Standard Cost $16.59 $2.50 Direct materials Direct labor undss $2.10 per pound $5.ee per hour During the most recent month, the following activity was recorded a. Fourteen thousand eight hundred and fifty pounds of material were purchased at a cost of $2.00 per pound b. All of the material purchased was used to produce 1,500 units of Zoom C. 600 hours of direct labor time were recorded at a total labor cost of $4,200. 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 (.e., zero variance). Input all amounts os positive values. Round your intermediate calculatio to the nearest whole dollar.) 1 Materials price variance Materials quantity variance Laborrate variance Labor efficiency variance