During June, Danby Company's material purchases amounted to 7,800 pounds at a price of $8.50 per pound. Actual costs incurred in the production of 1,600 units were as follows: Direct labor: Direct material: $ 137,280 ($19.20 per hour) $ 43,350 ($8.50 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $19.10 per hour Direct Material: Quantity, 3 pounds per unit Price, $8.20 per pound EX 10-27 (Algo) Diagramming Direct-Material and Direct-Labor Variances (LO 10-3) Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places. Direct-Material Purchase Price Variance Actual Material Cost of Purchases Actual Quantity Actual Price Projected Material Cost of Purchases Actual Quantity Standard Price pounds purchased $ 0 per pound pounds purchased Direct-material purchase price variance < Required 1 $ 0 per pound Required 3 >