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!Required InformationDuring June, Danby Company's material purchases amounted to 7,700 ?pounds at a price of...

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Accounting

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Required Information
During June, Danby Company's material purchases amounted to 7,700 ?pounds at a price of \( \$ 8.30 \) ?per pound. Actual costs incurred in the production of 2,400 ?units were as follows:
The standards for one unit of Danby Company's product are as follows:
Direct Labor:
Quantity, 3 ?hours per unit
Rate, \( \$ 19.40 \) ?per hour
Direct Material:
Quantity, 2 ?pounds per unit
Price, \( \$ 8.00 \) ?per pound
Required:
Compute the direct-material price and quantity variances, the direct-material purchase price varlance, and the direct-labor rate and efficlency variances.
Note: Indlcate the effect of each varlance by selecting "Favorable" or "Unfavorable". Select "None" and ente " 0 " ?for no effect (l.e., ?zero varlance).
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