Check my work 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. Direct materials Standard Quantity or Hours 7.5e pounds 0.30 hours Standard Price Standard or Rate $2.40 per pound $18.00 $7.00 per hour 5 5.60 Direct labor During the most recent month, the following activity was recorded a 13,250.00 pounds of material were purchased at a cost of $2.20 per pound b. All of the material purchased was used to produce 1,500 units of Zoom c 1.000 hours of direct labor time were recorded at a total labor cost of $9,000 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 (i.e., zero variance). Input all amounts os positive values. Round your intermediate calculations to the nearest whole dollar) Check my w a. 13,250.00 pounds of material were purchased at a cost of $220 per pound b. All of the material purchased was used to produce 1500 units of Zoom c 1000 hours of direct labor time were recorded at a total labor cost of $9,000 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 "P" for favorable, "U" for unfovorable, and "None" for no effect (.e., zero variance). Input all amounts os positive values. Round your intermediate calculations to the nearest whole dollar) nces 1 $ 4.8000 Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance 2 IU 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 Standard Quantity or Hours Direct materials Direct labor 6.30 pounds 0.40 hours Standard Price or Bate $ 3.00 per pound $13.00 per hour Standard Cost $20.40 $ 5.20 During the most recent month, the following activity was recorded a. Thirteen thousand two hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,320 units, using 11,880 pounds of material (The rest of the material purchased remained in raw materials inventory) C 628 hours of direct labor time were recorded at a total labor cost of $7.536. Required: Compute the materials price and quantity variances for the month (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 as positive values. Do not round intermediate calculations.) During the most recent month the following activity was recorded Check my werk a. Thirteen thousand two hundred pounds of material were purchased at a cost of $290 per pound b. The company produced only 1.320 units, using 11,880 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 628 hours of direct labor time were recorded at a total labor cost of $7.536 Required: Compute the materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts os positive volues. Do not round intermediate calculations.) Materials price variance Materials quantity variance
