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 nts Standard Price Standard Cost or Rate eBook Direct 7.0 pounds $ 3.00 per pound $21.00 $14.00 per hour materials Print Direct labor 0.4 hours $5.60 References During the most recent month, the following activity Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 was recorded: a. per pound. b. The company produced only 1,360 units, using 12,240 pounds of material. (The rest of the material purchased remained in raw materials inventory.) Six hundred and forty four hours of direct labor time were recorded at a total labor C. cost of $7728. Required: 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). Do not round intermediate calculations.) raw ill daatien Type here to search 1 During the most recent month, the following activity was recorded: Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 a. 1 per pound. points b. The company produced only 1,360 units, using 12,240 pounds of material. (The rest of the material purchased remained in raw materials inventory.) Six hundred and forty four hours of direct labor time were recorded at a total labor C. eBook cost of $7,728. Print Required: 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). Do not round intermediate calculations.) References Direct materials price variance Direct materials quantity variance Next> Mc Graw Hill Prev 1 of 7 Education W Type here to search