Huron Company produces a commercial cleaning compounces in s$00$m$.$ The direct materials and direct labor standards for one unit of Zoom are given below:Direct materialsDirect laborStandard Quantity or Hours$7\mathrm{.}300\mathrm{.}60$pounds hoursStandard PriceStandardor RateCost$$2\mathrm{.}80$ per pound $$20\mathrm{.}44$$$9\mathrm{.}00$ per hour$ $5\mathrm{.}40$During the most recent month, the following activity was recorded:a$.16,600\mathrm{.}00$ pounds of material were purchased at a cost of $$2\mathrm{.}50$ per pound.All of the material purchased was used to produce $2,000$ units of Zoom.c$.1,000$ hours of direct labor time were recorded at a total labor cost of $$12,000.$Required:$1.$ Compute the materials price and quantity variances for the month$\mathrm{.}2.$ Compute the labor rate and efficiency variances for the month.