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 Standard Price or Rate Standard Cost Direct materials 7.40 pounds $2.60 per pound $19.24 Direct labor 0.45 hours $8.00 per hour $3.60 During the most recent month, the following activity was recorded: a. Twelve thousand one hundred pounds of material were purchased at a cost of $2.50 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 575 hours of direct labor time were recorded at a total labor cost of $5,750. Required: Compute the materials price and quantity variances for the month. Compute