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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials standard quantity...

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Accounting

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials standard quantity or hours 4.6 pounds standard price or rate $2.50 per pound standard cost $11.50 direct labor standard quantity or hours 0.2 hours standard price or rate $18.00 per hour direct labor standard cost $3.60 During the most recent month, the following activity was recorded: twenty thousand pounds of material were purchased at a cost of $2.35 per pound all of the material purchased was used to produce 4,000 units of Zoom 750 hours of direct labor time were recorded at a total labor cost of $14,925. Compute the materials price and quantity variances for the month. Compute the labor rate and efficiency variances for the month.

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