Question: please explain the steps on how you got the answers, thank you! During June, Fraser Company's material purchases amounted to 6,000 pounds at a price

 please explain the steps on how you got the answers, thank

please explain the steps on how you got the answers, thank you!

During June, Fraser Company's material purchases amounted to 6,000 pounds at a price of $7.35 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,935 ($18.20 per hour) $32,340 ($7.35 per pound) The standards for ne unit of Fraser Company's product are as follows: Direct labor: Quantity: 3.1 hours per unit Direct material: Quantity: 2.1 pounds per unit Price: $7.10 per pound Rate: $18 per hour Required: Compute the direct-material price and quantity variances, the direct- material purchase price variance, and the direct-labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable

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