Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.34 per micron Direct labor: 1.3 hours per toy at $7.1 per hour During July, the company produced 4,600 Maze toys. Production data for the month on the toy follow: Direct materials: 78,000 microns were purchased at a cost of $0.31 per micron. 43,500 of these microns were still in inventory at the end of the month. Direct labor: 6,380 direct labor-hours were worked at a cost of $49,764. rev: 03-21-2011 1.value: 10.00 points Requirement 1: Compute the direct materials price and quantity variances for July.2.value: 10.00 points Requirement 2: Compute the direct labor rate and efficiency variances for July