During June, Danby Company's material purchases amounted to 6,700 pounds at a price of $8.00 per pound. Actual costs incurred in the production of 2,300 units were as follows: Direct labor: $134,420 ($18.80 per hour) Direct material: $ 39,200 ($8.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Direct Material: Quantity, 3 hours per unit Quantity, 2 pounds per unit Price, $7.70 per pound Rate, $18.70 per hour 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).) Answer is complete but not entirely correct. Direct-material price variance $ 1,470 Unfavorable Direct-material quantity variance $ 2,310 Unfavorable Direct-material purchase price variance $ 3,780 Unfavorable Direct-labor rate variance $ 715 Unfavorable Direct-labor efficiency variance $ 4,675 Unfavorable