8 12.5 points Skipped eBook Mc Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $3 per pound) Direct labor (3 hours @ $15 per hour) During May the company incurred the following actual costs to produce 8,600 units. Direct materials (131,200 pounds @ $2.80 per pound) Direct labor (30,400 hours @ $15.10 per hour) 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. Required 1 $45 45 Required 2 Actual Cost $367,360 459,040 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variar Prev 8 of 8 www Standard Cost Next

Lucia Company has set the following standard cost per unit for direct materials and direct laboc: Direct materials ( 15 pounds 8$3 per pound) 5. 45 Direct laboe ( 3 hours 9$15 per hour) 45 During May the company incurred the following actual costs to produce 8,600 units. Direct materials (131,200 pounds e$2,80 per pound) 5367,360 Direct Jabor (39,400 hours i $315.18 per hour) 459,048 AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency varlance. Complete this question by entering your answers in the tabs below. (2) Compute the direct labor rate variance and the direct labor efficiency variance Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicale the elfect of each variance by setiecting fivoratile, unfirvonble, os na variance, Round "Fate per hour" answers to 2 decimal places.)