Exercise 10-6 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 Standard Price Stanlard Hours Cont 7.80 pounds $2.30 per pound$17.94 0.30 hours .00 per hour $ 2.40 Direct labor During the most recent month, the following activity was recorded: a. 25,900.00 pounds of material were purchased at a cost of $2.10 per pound b. All of the material purchased was used to produce 3,000 units of Zoom. C. 700 hours of direct labor time were recorded at a total labor cost of $6,300. 2. Compute the labor rate and efficiency variances for the (For all r calculations to the nearest whole dolla