3 1 points eBook Exercise 23-12 (Algo) Direct materials and direct labor variances LO P3 Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $15 per hour) $ 75 45 During June the company incurred the following actual costs to produce 9,000 units. Hint References Direct materials (137,900 pounds @ $4.80 per pound) Direct labor (31,400 hours @ $15.15 per hour) $ 661,920 475,710 AR Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP Actual Price = SP Standard Price 1) Compute the direct materials price and quantity variances. 2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Check my