value: 5.00 points Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below Standard Quantity or Hours or Rate Cost Direct materials Direct labor 5.3 pounds S2.50 per pound 13.25 5.50 per hour .5 hours $ 2.75 During the most recent month, the following activity was recorded: a. Ten thousand two hundred pounds of material were purchased at a cost of $2.40 per pound b. The mpany produced only 1,020 units using 9,180 pounds of material. The rest of the material purchased remained in raw materials inventory. c. 610 hours of direct labor time were recorded at a total labor cost of ST,320. Required: Compute the materials price and qutity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "or unfavorable, and "None" for no effect (i.e., zero variance).) Direct materials price variancie Direct materials quantity variance