During June, Fraser Company's material purchases amounted to 3,000 pounds at a price of $6.50 per pound. Actual costs incurred in the production of 1,000 units were as follows: The standards for one unit of Fraser Company's product are as follows: Required: Compute the following variances for the month of June. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).)