3 points 1 E9-1 (Static) Calculating Unknown Values for Direct Materials, Direct Labor Variances (LO 9-3, 9-4] Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost some of its cost accounting records. Ironwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of Information. Required: Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw materials on hand. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Answer is not complete. Direct Materials Standard amount per pan produced 25 pound Direct Labor 1.10 hour Standard price $ 4.20 per $ 16.00 per hour pound Actual amount used per pan produced 24 pound 1.20 hour Actual price $ per 4.10 $ 15.50 pound per hour Actual number of pans produced and sold 2.500 pansi 2,500 pans Direct materials price variance S (2) U Direct materials quantity variance 40 F 00 Direct materials spending variance Direct labor rate variance Direct labor efficiency variance Direct labor spending variance $ (60) U $ 2 $ (2) 000 UFU 000