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 5.00 pounds 0.40 hours Direct materials Direct labor Standard Price on Rate $3,00 per pound 50.00 per hour standard Cost 317.40 $ 3.20 During the most recent month the following activity was recorded: a. Eleven thousand two hundred pounds of material were purchased at a cost of $2.90 per pound, b. The company produced only 1120 units, using 10,080 pounds of material. The rest of the material purchased remained in raw materials inventory.) c. 548 hours of direct lobortime were recorded at a total lobor cost of $6,576 Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts os positive volues. Do not round Intermediate calculations.) Materials price variance Materials quantity variance