-26 During June, Danby Company's material purchases amounted to 6,000 pounds at a price of S7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Calculation S116,745 818.10 per hour) S30.660 ($7.30 per pound) Direct labor: Direct material: The standards for one unit of Danby Company's product are as follows: Direct material: Direct labor: Quantity, 2 pounds per unit Price, $7 per pound Quantity. 3 hours per unit Rate, SI8 per hour Compute the direct-material price and quantity variances, the direct-material purchase Requlred: price variance, and the direct-labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable