Simon Corporation makes a product with the following standard costs: In June the company produced 5,000 units using 23, 250 grams of the direct material and 2, 540 direct labor- hours. During the month the company purchased 24, 900 grams of the direct material at a price of $7.80 per gram. The actual direct labor rate was $15.60 per hour and the actual variable overhead rate was $2.90 per hour. The materials price variance is computed when materials are purchased. Required: Compute the following variances for raw materials and direct labor, assuming that the price variance for materials is recognized at point of purchase: (Input all amounts as positive values. Do not round intermediate calculations. Leave no cells blank-be certain to enter "O" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the sign in your response.)