During June, Danby Company's material purchases amounted to 8,400 pounds at a price of $760 per pound. Actual costs incurred in the production of 2,200 units were as follows Direct labor: Direct material: 139,650 ($19.00 per hour) 41,040 ($7.60 per pound) The standards for one unit of Danby Company s product are as follows Direct Labor: Direct Material: Quantity, 3 hours per unit Rate, $18.90 per hour Quantity, 2 pounds per unit Price, $7.30 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