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Required information

EX $10-26,27($Algo$)$ Use the following information for the Exercises below.

During June, Danby Company's material purchases amounted to $7,300$ pounds at a price of $$7\mathrm{.}80$ per pound. Actual costs incurred in the production of $2,000$ units were as follows:

Direct labor: $$113,750,($$$18\mathrm{.}20$ per hour $)$

Direct material: $$36,660,($$$7\mathrm{.}80$ per pound $)$

The standards for one unit of Danby Company's product are as follows:

Direct Labor:EX $10-26($Algo$)$ Straightforward Calculation of Variances $($LO $10-1,10-3)$

Required:

Compute the direct$-$material price and quantity variances, the direct$-$material purchase price variance, and the direct$-$labor rate and efficiency variances.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter $"$O$"$ for no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[$Direct$-$material price variance,,$],[$Direct$-$material quantity variance,n$,],[$Direct$-$material purchase price va$,,],[$Direct$-$labor rate variance,,$],[$Direct$-$labor efficiency variance,,$]]$