Question Three (40 Points) Sunday 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 Standard Price or Rate 7 Pounds 1.60 per pound 0.4 hour 8 per hour Standard Cost 11.2 3.2 14.6 During June, Orion purchased 170,000 pounds of direct material at a total cost of $270,000. The total wages for June were $50,000, 90 percent of which were for direct labor. Orion manufactured 20,000 dartboards during June, using 156,000 pounds of the direct material purchased in June and 6,000 direct-labor hours. Required: Compute the following variances for the month of June (10 Points each) 1. Direct material price variance 2. Direct material quantity variance 3. Direct-labor rate variance. 4. Direct-labor efficiency variance