Homework Saved Help Save & Exit S Check my Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for ou unit of Zoom are given below: Standard Quantity or Hours 5.40 pounds 0.40 hours Direct materials Direct labor Standard Price or Rate $3.00 per pound $6.00 per hour Standard Cost $16.20 $ 2.40 During the most recent month, the following activity was recorded: a. Ten thousand four hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,040 units, using 9,360 pounds of material (The rest of the material purchased remained in raw materials inventory.) c. 516 hours of direct labor time were recorded at a total labor cost of $6,192 Required: Compute the materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance), Input all amounts as positive values. Do not roun intermediate calculations.) arch mework Saved Help Save & Exit Submit Check my work Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 6 microns per toy at $0.34 per micron Direct labor: 1.4 hours per toy at $6,60 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 77,000 microns were purchased at a cost of $0.32 per micron, 38,000 of these microns were still in inventory at the end of the month Direct labor. 7780 direct labor-hours were worked at a cost of $56,794. Required: 1. Compute the following variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances b. The labor rate and efficiency variances 1a Material price variance Material quantity variance Labor rate variance 1b. : ENG earch o te