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. Twelve thousand pounds of material were purchased at a cost of $2.90 per pound.

b. The company produced only 1,200 units, using 10,800 pounds of material. (The rest of the material purchased remained in raw materials inventory.)

c. Five hundred and eighty hours of direct labor time were recorded at a total labor cost of $6,960.

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.)

Standard Price Standard Quantity or Hours Standard Cost or Rate Direct materials Direct labor 6.2 pounds $ 3.00 per pound $18.60 0.4 hours $10.00 per hour $ 4.00 Direct materials price variance Direct materials quantity variance