Standard Price or Rate $ 2.30 per pound $ 10.00 per hour During the most recent month, the following activity was recorded: Direct materials Direct labor Standard Quantity or Hours 6.00 pounds 0.50 hours 1. Materials price variance 1. Materials quantity variance 2. Labor rate variance 2. Labor efficiency variance a. Eleven thousand pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 500 hours of direct labor time were recorded at a total labor cost of $6,500. Standard Cost Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) $ $ 13.80 $ 5.00 2,200 F

During the most recent month, the following activity was recorded: a. Eleven thousand pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 500 hours of direct labor time were recorded at a total labor cost of $6,500. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) During the most recent month, the following activity was recorded: a. Eleven thousand pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 500 hours of direct labor time were recorded at a total labor cost of $6,500. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each prariance by selecting "F" for favorable, " U " for unfavor effect (i.e., zero variance). Input all amounts as psitive values. Round your intermediate calculations to