Week 5 6 3 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 151 points Standard Quantity Standard Price Standard or Hour or Rate Cost Direct materials 7.1 pounds Direct labor pound $17.75 14.5e per hour $ 7.25 2.se Per e.50 hours Reterences During the most recent month, the following activity was recorded: a. Thirteen thousand eight hundred pounds of material were purchased at a cost of $2.40 per pound. b. The company produced only 1,380 units, using 12.420 pounds of material. (The rest of the material purchased remained in raw materials inventory) c 790 hours of direct labor time were recorded at a total labor cost of $9,480. Compute the materials price and quantity varlances for the month. (Indicate the effect of each veriance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance). Input all amounts as positive values. Do not round Prev 3 of 11 lll Next> Type here to search