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.16, 500 pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 2,000 units of Zoom. c. 500 hours of direct labor time were recorded at a total labor cost of $4, 250. Required: Compute the materials price and quantity variance for the month Compare the labor rate and efficiency variances for the month