A manufactured product has the following information for June. Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH=ActualHoursSH=StandardHoursAR=ActualRateSR=StandardRate Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selec favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH=ActualHoursSH=StandardHours A manufactured product has the following information for June. Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below: Compute the direct labor rate variance and the direct labor efficieacy variance, (Indicate the effect of each variance by selecting favorable, unfavonable, or no variand answen to 2 decimal places) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfaromble, or no vatiance) Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds 8$4 per pound) Direct labor ( 3 hours e $15 per hour) $60 45 During May the company incurred the following actual costs to produce 8,700 units. Direct materials ( 133,700 pounds 8 \$3.80 per pound) $508,060 Direct labor (29,700 hours $15.10 per hour) 448,470 AR=ActualRateSR=StandardRateAQ=ActualQuantitySO=StandardQuantityAP=ActualPriceSP=StandardPrice (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