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Required information During June, Danby Company's material purchases amounted to 8.200 pounds at a price of $7.40 per pound. Actual costs incurred in the production of 1,900 units were as follows: The standards for one unit of Danby Company's product are as follows: Required: Compute the direct-material price and quantity variances, the direct-material purchase price variance, and the direct-labor rate and efficiency varlances. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., ero variance)