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 Standard Price Standard Quantity or Hours Direct materials Direct labor 6.5 pounds 0.5 hours or Rate $ 2.50 per pound $11.50 per hour Cost $16.25 $ 5.75 During the most recent month, the following activity was recorded a. Twelve thousand six hundred pounds of material were purchased at a cost of $2.40 per pound b. The company produced only 1,260 units, using 11,340 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. Seven hundred and thirty hours of direct labor time were recorded at a total labor cost of $8,760 Required Compute the materials price and quantity variances for the month. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct materials price variance Direct materials quantity variance