Question 1: (90 points:18 each) Jordan Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Standard Quantity Standard Price or Rate Direct material 8 pounds $3.00 per pound Direct labor 0.3 hour $5.00 per hour Total During June, Orion purchased 150,000 pounds of direct material at a total cost of $390,000. The total wages for June were $45,000, 60 percent of which were for direct labor. Jordan manufactured 20,000 dartboards during June, using 170,000 pounds of the direct material purchased in June and 5,000 direct-labor hours. Required: Compute the following variances for June and indicate whether each is favorable or unfavorable. 1. The direct-material price variance. 2. The direct-material quantity variance. 3. Direct-material purchase price variance. 4. The direct-labor rate variance. 5. The direct-labor efficiency variance