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. Direct materials Direct labor Standard Quantity or Hours 7.te pounds B.9 hours Standard Price or Rate $2.30 per pound S#.Se per hour Standard Cost $17.62 $ 2.65 During the most recent month, the following activity was recorded: a. Twenty one thousand five hundred pounds of material were purchased at a cost of $210 per pound, b. All of the material purchased was used to produce 2,500 units of Zoom c.2.000 hours of direct lobortime were recorded at a total labor cost of $21.000. Required: 1. Compute the materials price and wantity variances for the month 2. Compute the labor rate and efficiency variances for the month (For all requirements. Indicate the effect of each varlence by selecting "P" for favorable. "U" for unfavorable, and "Nonefor no effect ... zero vorlence). Input all amounts os positive values. Round your Intermediate esiculations to the nearest whole dollar.) 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. Direct materials Direct labor Standard Quantity or Hours 7.te pounds B.9 hours Standard Price or Rate $2.30 per pound S#.Se per hour Standard Cost $17.62 $ 2.65 During the most recent month, the following activity was recorded: a. Twenty one thousand five hundred pounds of material were purchased at a cost of $210 per pound, b. All of the material purchased was used to produce 2,500 units of Zoom c.2.000 hours of direct lobortime were recorded at a total labor cost of $21.000. Required: 1. Compute the materials price and wantity variances for the month 2. Compute the labor rate and efficiency variances for the month (For all requirements. Indicate the effect of each varlence by selecting "P" for favorable. "U" for unfavorable, and "Nonefor no effect ... zero vorlence). Input all amounts os positive values. Round your Intermediate esiculations to the nearest whole dollar.)