The following information describes production activities of Truzor Manufacturing for the year:

Actual raw materials used 38,000 lbs. at $5.70 per lb.
Actual factory payroll 6,000 hours for a total of $96,000
Actual units produced 30,000

Budgeted standards for each unit produced are 1.00 pounds of raw material at $5.80 per pound and 10.0 minutes of direct labor at $15.50 per hour.

(1)

Compute the direct materials price and quantity variances.(Input all amount as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in your response)

Price variance $ (Click to select)UFNone
Quantity variance $ (Click to select)NoneFU

(2)

Compute the direct labor rate and efficiency variances. (Input all amount as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required. Please round to the nearest whole number. Omit the “$” sign in your response)

Rate variance $ (Click to select)NoneFU
Efficiency variance $ (Click to select)NoneUF