Vala Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for oneunit of Zoom are given below:Standard Quantityor HoursDirect materialsDirect labor7.80 pounds0.30 hoursDuring the most recent month, the following activity was recorded.a. 25,900.00 pounds of material were purchased at a cost of $2.10 per pound.b. All of the material purchased was used to produce 3,000 units of Zoom,c. 700 hours of direct labor time were recorded at a total labor cost of $6,300.Required:Standard Price or Rate$ 2.30 per pound$ 8.00 per hour1. Materials price variance1. Materials quantity variance2. Labor rate variance2. Labor efficiency varianceStandardCost$17.94$2.401. 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 variance by selecting "F" for favorable, "U" for unfavorable, and "None"for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearestwhole dollar.

Name: Vala Huron Company produces a commercial cleaning compound known as Zo
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Vala Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for oneunit of Zoom are given below:Standard Quantityor HoursDirect materialsDirect labor7.80 pounds0.30 hoursDuring the most re