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50 po 1 Hours Hase CHEL 12.78 Direct materials 7.10 pounds 8.20 hours Direct labor 31.0 per pound 12.00 per hour 2.40 During the most recent month, the following activity was recorded: a Nineteen thousand two hundred and fifity pounds of material were purchased at a cost of $1.70 per pound. b. All of the material purchased was used to produce 2.500 units of Zoom c. 400 hours of direct labor time were recorded at a total labor cost of $5.200 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 "P" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar) 1. Materials price variance 1. Materials quantity variance 2. Labor rahe variance 2, Labor efficiency vanance Check my work 50 2 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 Standard Price Rate Standard Cust Direct materials Direct labor 7.00 pounds 8.40 hore $3.00 per pound 14.00 per hour 821.00 8.40 During the most recent month, the following activity was recorded a Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 per pound b. The company produced only 1,360 units, using 12.240 pounds of material. (The rest of the material purchased remained in raw materials inventory) c. 644 hours of direct labor time were recorded at a total labor cost of $7728. Required: Compute the materials price and quantity variances for the month (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 as positive values.) Materials price variance Materials quantity variance Check my work 2 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 Standard Price of Standard Dost Beurs Fata Direct materials Siret Labr 7,0 pounds 4.40 hours 21.14 1.80 per pound $14.00 per During the most recent month, the following activity was recorded a Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1.360 units, using 12,240 pounds of material. (The rest of the material purchased remained in raw materials inventory) t644 hours of direct labor time were recorded at a total labor cost of $7,728 Required: Compute the materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values) Material price anc Mas quantity valance 50 pos Check my work 50 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 Handard Quantity Standard Price Standard Cost Rate Birect materials 1.10 pounde 4.20 hours 1-0 per p 12.00 pour $12.9 12.4 During the most recent month, the following activity was recorded a. Nineteen thousand two hundred and fifty pounds of material were purchased at a cost of $170 per pound b. All of the material purchased was used to produce 2.500 units of Zoom c400 hours of direct labor time were recorded at a total labor cost of $5,200 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 (ezero variance), Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar) Mayance Check my work