Huron Company produces a commercial deaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below standard Quantity or Hours 7.20 pounds 2.0 hours Standard Direct muterials Direct labor Standard Price or Rite $ 2.00 per pound $10.6 per hour Gost During the most recent month the following activity was recorded a. Sixteenthousand nine hundred pounds of material were purchased at a cost of $250 per pound b All of the material purchased was used to produce 2.000 units of Zoom c. 800 hours of direct labor time were recorded at a total labor cost of $8.800 Required: 1. Compute the materials price and quantity variances for the month 2. Compute the labor rate and efficiency variances for the month For all requirements, Indkate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect ile., zeto vat lance. Input all amounts es positive values. Round your interviene cokelations to the nearest whole dollar. Materials quantity walance 2 Laborate wariance