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Huron Company produces a commercial cleaning compound known as Zoom. The direct materlals and direct...

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Accounting

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Huron Company produces a commercial cleaning compound known as Zoom. The direct materlals and direct labor standards ic unit of Zoom are given below: During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. b. All of the materlal purchased was used to produce 4.000 units of Zoom. c. 750 hours of direct labor time were recorded at a total labor cost of $14.925. 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 unfovorable, and "None" for nt effect (i.e., zero variance). Input all amounts as positive values.)

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