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During June, Danby Companys material purchases amounted to 6,200 pounds at a price of $7.50 per pound. Actual costs incurred in the production of 2,100

During June, Danby Companys material purchases amounted to 6,200 pounds at a price of $7.50 per pound. Actual costs incurred in the production of 2,100 units were as follows:

Direct labor: $ 121,695 ($18.30 per hour)
Direct material: $ 33,000 ($7.50 per pound)

The standards for one unit of Danby Companys product are as follows:

Direct Labor: Direct Material:
Quantity, 3 hours per unit Quantity, 2 pounds per unit
Rate, $18.20 per hour Price, $7.20 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 "0" for no effect (i.e., zero variance).)

Direct-material price variance
Direct-material quantity variance
Direct-material purchase price variance
Direct-labor rate variance
Direct-labor efficiency variance

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