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 ar Quantity or Standard Price Standard or Rate Cost Direct materials Direct labor 7.20 pounds $ 2.00 per pounds $14.40 0.35 hours $ 5.00 per hourS 1.75 During the most recent month, the follo 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. activity was recorded: Required: 1. Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "Fi" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero materials price variance Direct materials quantity variance