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 De Standard Quantity or Hour 6:20 pounds 2.10 hours Direct materials Direct Tabor 5 3.00 per pound $10.00 per hour Standard cost $18.60 $4.00 During the most recent month, the following activity was recorded a. Twelve thousand pounds of material were purchased at a cost of $2.90 per pound, b. The company produced only 1.200 units, using 10,800 pounds of material (The rest of the material purchased remained in raw materials inventory) c 580 hours of direct labor time were recorded at a total fabor cost of $6,960, Required: Compute the materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (ie, zero variance). Input all amounts os positive values. Do not round intermediate calculations, 5 Materials price variance Materials quantity variance 1 2001 1.1600