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 720 pounds $ 2.00 per pounds 0.35 hours $ 5.00 per hour Standard C ost $14.40 $ 1.75 Direct materials Direct labor During the most recent month, the following activity was recorded: a 21,000 pounds of material were purchased at a cost of $1.70 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. c. 725 hours of direct labor time were recorded at a total labor cost of $5,800. Required: 1. Compute the materials price and quantity variances for the month. Indicate the effect of each variance by selecting for favorable, un for unfavorable, and "None" for no effect (ie, zero variance).) Direct materials price variance Direct materials quantity variance 2. Compute the labor rate and efficiency variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.o., zero variance). Do not round your intermediate calculations.) Direct labor rate variance Direct labor efficiency variance The following materials standards have been established for a particular pro Standard quantity per unit of output Standard price 3.1 grams $13.00 per gram The following data pertain to operations concerning the product for the last month Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 1.900 grams $ 22,135 1,200 grams 360 units The direct materials purchases variance is computed when the materials are purchased Required: a. What is the materials price variance for the month? (input the amount as a positive value. Leave no cells blankbe certain to enter"0" wherever required. Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None for no efectezero variance.) Materials price variance b. What is the material quantity variance for the month 7 input the amount as positive value. Leave no cells blank - be certain to enter"0" wherever required, indicate the effect of each variance by selecting for favorable for unfavorable, and "None" for no effect (e. ro variance Materials quantity variance