Exercise 10-6 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Huron Company produces a commetcial cleaning compound known as Zoom. The clirect materiais and direct iabor standards tor one unt ot Zoom are given betow: Dunng the most recent month, the followng actrity was recorded. a 20,50000 pounds of matesal were puschased at a cost of $1 \$O per pound 6 Ali of the matetiol purchased was used to produce 3,000 units of Zoom. a gion noure or direct iabor time here recoided at e totat labor cort of $12000 Required: 1 Compute the materias price and quantity variances for the month. 5 Combute the labor rate and efficiency variances for the month. For all requirements, indicate the effect of each variance by selecting "F" for fovorable, "U" for unfovorabie, and "None" for no effect (0.e, zero voriance), input oll omounts as posituve values. Round your intermediate colculotions to the nearest whole dolior.)