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 Standard Cost Hours or Rate Direct materials 6.90 pounds 2.50 per pound$17.25 0.50 hours $13.50 per hour6.75 Direct labor During the most recent month, the following activity was recorded: a. Thirteen thousand four hundred pounds of material were purchased at a cost of $2.40 per pound. b. The company produced only 1,340 units, using 12,060 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 770 hours of direct labor time were recorded at a total labor cost of $9,240. SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 3,500 of these meals using 1,710 direct labor-hours. The company paid its direct labor workers a total of $23,940 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 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 Standard Cost Hours or Rate Direct materials 7.30 pounds $2.25 per pound 16.43 0.65 hours $6.50 per hour Direct labor s 4.22 During the most recent month, the following activity was recorded: a. Sixteen thousand six hundred pounds of material were purchased at a cost of $2.05 per pound. b. All of the material purchased was used to produce 2,000 units of Zoom. c. 1,200 hours of direct labor time were recorded at a total labor cost of $11,400