Direct- Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Standard Quantity 8 pounds .25 hour Standard Price or Rate $1.75 per pound $8.00 per hour Standard Cost $14.00 2.00 $16.00 Total.. During June, Orion purchased 160,000 pounds of direct material at a total cost of $304,000. The to tal wages for June were $42,000, 90 percent of which were for direct labor. Orion manufactured 19,000 dartboards during June, using 142,500 pounds of direct material and 5,000 direct-labor hours. Required: Compute the following variances for June, and indicate whether each is favorable or unfavorable 1. The direct-material price variance. 2. The direct-material quantity variance. 3. The direct-labor rate variance. 4. The direct-labor eficiency variance.