MODULE 2: Chapter 10 GRADED Required 10 Saved Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards Direct material Direct labor Total Standard Quantity 13.00 pounds 2.10 hour Standard Price or Rate $2.90 per pound $ 14.00 per hour Standard Cost 5.37.70 29.40 Help Save & Ex 3 points Skipped 500k $ 67.10 During June, Orion purchased 263,000 pounds of direct material at a total cost of $810,040 The total wages for June were $600.300, 90 percent of which were for direct labor. Orion manufactured 18.000 dartboards during June, using 225.000 pounds of the direct material purchased in June and 41,400 direct-labor hours Required: Compute the following variances for June Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable" Select "None" and enter "O" for no effect (ie., zero variance). 1. Drect-material price variance 2 Direct-material quantity variance 3 Direct-material purchase price variance 4 Direct-labor rate variance 5 Direct-labor efficiency variance