A Question 3 (6 points) Retale question Shaw Industries employs a standard cost system. Shaw has established the following standards for the prime costs of one unit of product. During May, Shaw purchased 160,000 pounds of direct material at a total cost of $304,000. The total direct labor wages for May were $37,800. Shaw manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours. Compute the direct material quantity variance for May. Example of Answer: 4000U4000F (No comma, space, decimal point, or $ sign) A Compute the direct material price variance for May. Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign) Compute the direct labor rate variance for May is: Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign) Compute the direct labor efficiency variance for May. Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign)