Huron Company produces a commerial cleaning compound known as Zocem. The direct materiak and direct labor standards for one unit of Zoom are given below: Dusing the most recent month, the following actvity was recoeded a. Twelve thousand one hundred pounds of material were purchased at a cost of $250 per peund b. All of the mateilal parchased was used to produce 1,500 units of 700 . c. 575 hours of direct labor time were recorded at a total laber cost of $5.750. Required: 1. Compute the materials price and quantity variances tor the month. 2 Compute the labor rate and efficiency variances for the month (For oll requirements, Indicete the effect of ench vorience by selecting "F" for fovoroble, "U" for untovereble, ond "None" for no effect (i.e., zere verience). Input all amounts as positive values. Aound your intermediote colculations te the nearest whole doller) a. Twelve thousand one hundred pounds of materlal were purchased at a cost of $2.50 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 575 hours of direct labor time were recorded at a total labor cost of $5.750. 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, Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, ond "None" for no effect (i.e., zero variance). Input all omounts as positive values. Round your intermediate calculations to the nearest whole dollar.)