Exercise $9-17$ Direct Materials and Direct Labor Variances $[$LO$9-4,$ LO$9-5]$

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 $$0\mathrm{.}33$ per micron

Direct labor: $1\mathrm{.}4$ hours per toy at $$6\mathrm{.}90$ per hour

During July, the company produced $4,900$ Maze toys. The toy's production data for the month are as follows:

Direct materials. $74,000$ microns were purchased at a cost of $$0\mathrm{.}30$ per micron. $37,250$ of these microns were still in inventory at the end of the month.

Direct labor. $7,160$ direct labor$-$hours were worked at a cost of $$51,552.$

Required:

Compute the following variances for July: $($Indicate the effect of each variance 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 intermediate calculations. Round final answers to the nearest whole dollar amount.$)$

a$.$ The materials price and quantity variances.

b$.$ The labor rate and efficiency variances.

$\backslash$table$[[1$a$.,$Material price variance,,$],[,$Material quantity variance,,$],[1$b$.,$Labor rate variance,,$],[,$Labor efficiency variance,,$]]$