accounting homework help

Exercise 9-13 (Algo) Direct Materials and Direct Labor Variances (LO9-4, LO9-5) 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 Hous Standard Price on Rate Standard cost Direct materials 7.50 pounds $ 2.40 per pound $ 13.00 Direct labor 0.10 hours $7.00 per hour 5.5.60 During the most recent month, the following activity was recorded a Thirteen thousand two hundred and fifty pounds of material were purchased at a cost of $2 20 per pound b. All of the material purchased was used to produce 1500 units of Zoom c. 1,000 hours of direct labor time were recorded at a total labor cost of $9,000 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 (ie, zero variance). Input all amounts os positive values. Round your intermediate calculations to the nearest whole dollar) 1 Materials price variance 1 Materials quantity variance 2. Laborrate variance 2 Labor eliciency variance