During June, Danby Company's material purchases amounted to 7,700 pounds at a price of $8.30 per pound. Actual costs incurred in the production of 2,400 units were as follows: Direct labore Direet materiali $ 143, 325 $19.50 per hour) 48,970 (58.30 per pound) The standards for one unit of Danby Company's product are as follows: Direet Labor Quantity ore per unit Rate, $19.40 per hour Direct Material: Want T rude perni Price, 16.00 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 effectie, zero variance).) Direct material price variance Direct- material quantity variance Direct-material purchase price variance Direct laborate variance Direct-labor efficiency variance