During June, Danby Company's material purchases amounted to 7,300 pounds at a price of $7.80 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material:$36,660 ($7.80 per pound) $113,750 ($18.20 per hour) The standards for one unit of Danby Company's product are as follows Direct Labor: Direct Material: Quantity, 3 hours per unit Rate, $18.10 per hour Quantity, 2 pounds per unit Price, $7.50 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 "O 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