Exercise $9-13($Algo$)$ Direct Materials and Direct Labor Variances $[$LO$9-4,$ LO$9-5]$

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$[[,\backslash$table$[[$Standard$],[$Quantity or$],[$Hours$]],\backslash$table$[[$Standard Price or$],[$Rate$]],\backslash$table$[[$Standard$],[$Cost$]]],[$Direct materials,$\backslash$table$[[7\mathrm{.}00$ pounds$]],$$$2\mathrm{.}20$ per pound,$$15\mathrm{.}40$