$ 70 64 Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) Direct labor (4 hours @ $16 per hour) During May the company incurred the following actual costs to produce 9,000 units. Direct materiale (128,700 pounds e $4.80 per pound) $ 617,760 Direct labor (40,200 hours @ $16.10 per hour) 647,220 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