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: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.10 pounds $ 1.80 per pound $ 12.78 Direct labor 0.20 hours $ 12.00 per hour $ 2.40 During the most recent month, the following activity was recorded: Nineteen thousand two hundred and fifity pounds of material were purchased at a cost of $1.70 per pound. All of the material purchased was used to produce 2,500 units of Zoom. 400 hours of direct labor time were recorded at a total labor cost of $5,200. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month.