LO8-Variance Analysis Assignment 3 8 Saved her 20212022 Piciples and Practices of insurance IN-100-a Help Save & Exit Submit Exercise 11-2 Computing All Variances (LO3- CC15, 17, 18; LO4 - CC22, 23) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standarc for one unit of Zoom follow: Standard Price points eBook Print References Direct materials Direct labour Variable overhead Standard Quantity or Hours or Rate Standard Cost 4.10 kilograms 0.41 hour 0.41 hour $2.10 per kilogran $8.61 $8.00 per hour $1.30 per hour 3.28 0.53 The budgeted fixed overhead cost is $14,224 per month. The denominator activity level of the allocation base is 1,148 direct labour-hours. During the most recent month, the following activity was recorded: a. 9,900 kilograms of material were purchased at a cost of $2.20 per kilogram. b. All of the material purchased was used to produce 2,800 units of Zoom. c. A total of 770 hours of direct labour time was recorded at a total labour cost of 9,086. d. The variable overhead cost was $1,540, and the fixed overhead cost was $22,811. Required: 1. Compute the direct materials price and quantity variances for the month. (Indicate the effect of each variance by selectin "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) 990 F