Exercise 10 - 10 Material Variances [ LOZ] The direct materials and direct labour standards for one bottle of Clean - All spray cleaner are given below ! Standard Quantity Standard Price Standard Or HOURS or Rate Cost Direct Materials 6.` millilitre s $ 0. 25 millilitre s $ 1.50 Direct labour 0. 2 hours 512. 00 per hour $ 2.40 During the most recent month , the following activity was recorded . a. 20, 000 millilitres of material was purchased at a cost of $0. 20 per millilitre* 6 . The company produced only 2, 400 battles , using 16, 000 millilitres of material . ( The rest of the material purchased remained in raw materials inventory! ! C. 625 hours of direct labour time was recorded at a total labour cost of $ 7, 500. Required . Compute the direct materials price and quantity variances for the month . (Indicate the effect of each variance bay selecting " F" for favourable , " U " for unfavourable , and " Home " for no effect (i.E., Zero variance