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Item $1$

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:

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$$Standard Quantity or HoursStandard Price or RateStandard CostDirect materials$4\mathrm{.}6$pounds$ $2\mathrm{.}50$per pound$ $11\mathrm{.}50$Direct labor$0\mathrm{.}2$hours$ $18\mathrm{.}00$per hour$ $3\mathrm{.}60$

During the most recent month, the following activity was recorded:

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Twenty thousand pounds of material were purchased at a cost of $$2\mathrm{.}35$ per pound.

All of the material purchased was used to produce $4,000$ units of Zoom.

$750$ hours of direct labor time were recorded at a total labor cost of $$14,925.$

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Required:

$1.$ Compute the materials price and quantity variances for the month.

$2.$ Compute the labor rate and efficiency variances for the month.