Check my work Exercise 10-26 Straightforward Calculation of Variances (LO 10-1, 10-3) During June, Danby Company's material purchases amounted to 8,100 pounds at a price of $8.00 per pound. Actual costs incurred in the production of 1,600 units were as follows: Direct labor: Direct material: $135,975 ($18.50 per hour) $ 39,209 ($8.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.40 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.70 per pound Required: Compute the direct-material price and quantity variances, the direct-material purchase price variance, and the direct.labor rate and efficiency variances (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) Check my work Quantity, 4 hours per unit Rate, $18.40 per hour Quantity, 3 pounds per unit Price, $7.70 per pound Required: Compute the direct-material price and quantity variances, the direct-material purchase price variance, and the direct-labor rate and efficiency variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "o" for no effect (i.e., zero variance).) Direct-material price variance Direct-material quantity variance Direct-matorial purchase price variance Direct-labor rate variance Direct-labor officiency varianco