Exerclse 10-6 (Algo) Direct Materlals and Direct Labor Varlances [LO10-1, LO10-2] Hisch Compary produces a commercal cleaning compound known as Zoom. The drect materlals and direct labor standards for one .ol Zoom are given below. Dunio tha mog recent month, the followng activity was recorded: 2. 13.50000 pounds of material were purchased at a cost of $1.40 per pound. D. A or the material purchased was veed to produce 2,500 units of Zoom. ce wo houn ot direct labor ume were recorded at a total labor cost of $13.600. Reguired: 1. Cempule the materals price and quanuty vartances for the month. 2. Compute the fabor rate and elficlency vartances for the month. (For all reguirements, Indicate the effect of each varlance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (1.e. zero vartance). Input all amounts as poctive values. Round your intermediate calculations to the nearest whole dollar)