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:

	Stand Quantity or Hours	Standard Price or Rate	Standard Cost
Direct Materials	4.6 pounds	$2.50 per pound	$11.50
Direct Labor	0.2 hours	$12.00 per hour	$2.40

During the most recent month, the following activity was recorded:

1. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.

2. All of the material purchased was used to produce 4,000 units of zoom.

3. 750 hours of direct labor time were recorded at a total cost of $10,425

Required:

1. Compute the materials price and quantity variances for the month.

2. Compute the labor rate and efficiency variances for the month.