Exercise 10-6 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] 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: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 6.00 pounds $ 2.30 per pound $ 13.80 Direct labor 0.50 hours $ 10.00 per hour $ 5.00 During the most recent month, the following activity was recorded: 11,000.00 pounds of material were purchased at a cost of $2.10 per pound. All of the material purchased was used to produce 1,500 units of Zoom. 500 hours of direct labor time were recorded at a total labor cost of $6,500