Please look at the attached document and solve the problems

7. value: 15.00 points Exercise 8-13 Direct Materials and Direct Labor Variances [LO8-4, LO8-5] 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 Hours Direct materials Direct labor 4.6 pounds 0.2 hours Standard Price or Rate per $ 2.50 pound $ 12.00 per hour Standard Cost $ 11.50 $ 2.40 During the most recent month, the following activity was recorded: Twenty thousand pounds of material a. were purchased at a cost of $2.35 per pound. All of the material purchased was b. used to produce 4,000 units of Zoom. 750 hours of direct labor time were c. recorded at a total labor cost of $10,425. Required: 1. 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 (i.e., zero variance).) 2. Compute the labor rate and efficiency variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)