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Huron Company produces a 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. Eleven thousand two hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,120 units, using 10,080 pounds of material (The rest of the material purchased remained in raw materials inventory) c. 548 hours of direct labor time were recorded at a total labor cost of $6.576. Required: Compute the materials price and quantity variances for the month Note: Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Exercise 10-6 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Huron Company produces a 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. 21,50000 pounds of material were purchased at a cost of $2.10 per pound b. All of the material purchased was used to produce 2,500 units of Zoom. C. 2.000 hours of direct labor time were recorded at a total labor cost of $21,000 Required: 1. Compute the materials price and quantity variances for the month 2. Compute the labor rate and efficiency varlances for the month Note: For all requirements, Indicate the effect of each voriance by selecting "F" for fovoroble, "U" for unfavorable, ond "None" for no effect (i.e, zero variance). Input all amounts as positive volues. Round your intermediate colculations to the neorest whole doller