Exercise $10-6($Algo$)$ Direct Materials and Direct Labor Variances $[$LO$10-1,$ LO$10-2]$

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below:

$\backslash$table$[[,$Standard Quantity,,Standard$],[,$or Hours,Standard Price or Rate,Cost$],[$Direct materials,$6\mathrm{.}80$ pounds,$$3\mathrm{.}00$ per pound,$$20\mathrm{.}40$