Exercise 9-17 (Algo) Direct Materials and Direct Labor Variances [LO9-4, LO9-5] Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help controt cants and has estabilistied the following standards for the Maze toy: Ditect materials 6 microns per toy at $0,32 per micron Direct labor, 1.4 hours per toy at \$7 10 per hour end of the month. Direct labor 7,360 dire ct labor-hours were worked at a cost of $5/408. Required: 1. Compule the following variances for July, (Indicate the effect of each variance by selecting "F" for fovorable, "U* for unfavornble and "None" for no effect (1.e., zero variance), Input all amounts as positive valueti. Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) the matertialis rice and quantify vatiances. b. The latsor fate and efficiency variances