Seved Exercise 10-6 Help Save & Exit Submit Check my work 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: Standard Quantity or Standard Price Standard OT Rate $2.50 r oel $6.00 per hour 1C Hours Cost $19.50 $ 1. 80 7.80 Us 0.30 hours Direct aterials points Dircct labor cBook During the most recent month, the following activity was recorded: Print References a. 9,300.00 pounds of material were purchased at a cost of $2.20 per pound. b. All of the material purchased was used to produce 1,000 units of Zoom c. 200 hours of direct labor time were recorded at a total labor cost of $1,400. 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 (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) Exercise 10-6 A Saye & Exit Submit Saved Help Check my work 1 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 (i.e, zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) 1C points Materials price variance 1 Materials quantity variance eBook 2 Labor rate variance Print Labor efficiency variance References