Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 13.00 pounds 1.00 hour Standard Price or Rate $ 1.80 per pound $13.00 per hour Standard Cost $23.40 13.00 $36.40 During June, Orion purchased 395,000 pounds of direct material at a total cost of $782,100. The total wages for June were $417,252, 75 percent of which were for direct labor. Orion manufactured 29,000 dartboards during June, using 371,200 pounds of the direct material purchased in June and 31,610 direct-labor hours. Required: Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance During June, Danby Company's material purchases amounted to 8,100 pounds at a price of $8.00 per pound. Actual costs incurred in the production of 1,600 units were as follows: Direct labor: Direct material: $135,975 ($18.50 per hour) $ 39,200 ($8.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.40 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.70 per pound Required: Compute the direct-material price and quantity variances, the direct-material purchase price variance, and the direct-labor rate and efficiency variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) Direct-material price variance Direct-material quantity variance Direct-material purchase price variance Direct-labor rate variance Direct-labor efficiency variance During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,000 yards at $1.48 per yard Direct material used: 10,500 yards at $1.48 per yard Direct labor: 3,100 hours at $9.25 per hour $ 28,120 15,540 28,675 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.45 per yard Direct labor: 5 hours at $8.00 per hour Total standard prime cost per unit of output $29.00 40.00 $69.00 Required: Compute the following variances for the month of May. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 13.00 pounds 1.00 hour Standard Price or Rate $ 1.80 per pound $13.00 per hour Standard Cost $23.40 13.00 $36.40 During June, Orion purchased 395,000 pounds of direct material at a total cost of $782,100. The total wages for June were $417,252, 75 percent of which were for direct labor. Orion manufactured 29,000 dartboards during June, using 371,200 pounds of the direct material purchased in June and 31,610 direct-labor hours. Required: Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance