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 Standard Price Hours or Rate 7.00 pounds 5 2.20 per pound 0.45 hours $ 7.00 per hour Direct materials Direct labor Standard Cost $ 15:40 $ 3.15 During the most recent month, the following activity was recorded a 19,500 pounds of material were purchased at a cost of $2 10 per pound b. All of the material purchased was used to produce 2.500 units of Zoom 1,025 hours of direct labor time were recorded at a total labor cost of $9,225 Required: 1. Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by electing "T" for favorable. "U" for unfavorable, and "None" for no effect (... mere variance Direct materials price variance Dired materiais quantity vanance 2. Compute the labor rate and frency variances for the month (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect exero variance) Direct laborate variance Oured boreticancy variance