Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct...
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Accounting
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: During the most recent month, the following activity was recorded: a. 20,500,00 pounds of material were purchased at a cost of $170 per pound. b. All of the material purchased was used to produce 3,000 units of Zoom. c. 800 hours of direct labor time were recorded at a total labor cost of $12,000 Required: 1. Compute the materials price and quantity variances for the month 2. Compute the labor rate and efficiency variances for the month Note: For all requirements, Indicate the effect of each voriance by selecting "F" for favorable, "U" for unfovorable, ond "None" for no effect (i.e., zero variance). Input oll amounts os positive volues. Round your intermediate colculations to the nearest Whole dollar
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