to.mheduc atio onment-7 (Cp Standard Costs & Variance 10.00 points Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom follow: Standard Quantity Standard Standard Price or Hours or Rate Direct materials 4.10 kilograms 1.90 per kilogram $7.79 Direct labour 0.39 hour $8.00 per hour 3.12 1.30 per hour Variable 0.39 hour 0.5 The budgeted fixed overhead cost is $13,229 per month. The denominator activity level of the allocation base is 1,560 direct labour-hours. During the most recent month, the following activity was recorded: a. 9,400 kilograms of material were purchased at a cost of$2.18 per kilogram. b. All of the material purchased was used to produce 4,000 units ofZoom. c. A total of 720 hours of direct labour time was recorded at a total labour cost of 8,784 d. The variable overhead cost was $1,440, and the fixed overhead cost was $30,997 Required 1. Compute the direct 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).) Materials price variance Materials quantity variance Chegg Study I Guided Solutions and Study Help I Chegg.com