6 Check my work Hutto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 1b. $4 per 1b.) Direct labor (2 hrs. #516 per hr.) 560 32 6 points During May the company incurred the following actual costs to produce 8,900 units. tos Direct materiala (137,400 lb.. $3.80 per b.) Direct labor (22,400 hrs. $16.10 per he.). $522,120 360,640 HOM Prime References AH = Actual Hours SH - Standard Hours 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, (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) ME Graw for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. RequiredRequired 2 Compute the direct materials price and quantity variances, Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost 0 $ $ 0 (Required 1 Required 2 > War Maces. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cont $ 0 $ 0 0