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: During the most recent month, the following activity was recorded: a. 17,500 pounds of material were purchased at a cost of $2.20 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. c. 475 hours of direct labor time were recorded at a total labor cost of $6,175. Required: 1. 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 (i.e., zero variance).)