Huran Company produces a commercal cleaning compound known as Zoom. The direct materias and direct labor standards for one? unit of Zoom are given below? Duing the most recent month, the following activity was recorded 7. Tweive thousand eight hundred pounds of matenal were purchased at a cost of 52.90 per pound b. The company produced ony 1200 units; using 11.520 pounds of material. (The rest of the material purchased remained in ruw. matenais inventory) c. 612 hours of direct labor time were recorded at a total labor cost of $7,344 Aequired Compute the materiass price and quantity veriances for the month (indicate the effect of each variance by selecting "F" for tavorable, "U" for unfavorable, and "None" for no effect (f.e., rere variance). Input all amounts as poslitive values.) 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: During the most recent month, the following activity was recorded: a. Twelve thousand eight hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,280 units, u sing 11,520 pounds of material. (The rest of the material purchased remained in raw materials inventory) c. 612 hours of direct labor time were recorded at a total labor cost of $7,344. Required: Compute the materials price and quaptity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and wone" for no effect (i.e., zero variance). Input all amounts as positive values.)