e https Check my work mode: This shows what is correct or incorrect for the work you have completed so for. It does not indicate co 14 Exercise 9-17 Direct Materials and Direct Labor Variances (L09-4. Lo9-5) Dawson Toys. Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 6 microns per toy at $1.50 per micron Direct labor: 1.3 hours per toy at $21 per hour During July, the company produced 3,000 Maze toys. The toy's production data for the month are as follows: Direct materials 25.000 microns were purchased at a cost of $1.48 per micron. 5,000 of these microns were stil in inventory at the end of the month. Direct labor 4,000 direct labor-hours were worked at a cost of $88,000 Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for n effect (i.e., zero variance . Input all amounts as positive values. a. The materials price and quantity variances. b. The labor rate and efficiency variances. 3 Answer is complete but not entirely correct. Matenial quantity variance 4,000 U