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Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds $4 per pound) Direct labor (3 hours e $16 per hour) $ 60 48 During May the company incurred the following actual costs to produce 8,800 units. Direct materials (135,200 pounds @ $3.80 per pound) Direct labor (31,200 hours e $16.10 per hour) AR = Actual Rate SR = Standard Rate AO = Actual Quantity SO = Standard Quantity AP = Actual Price SP = Standard Price AH = Actual Hours SH = Standard Hours (1) Compute the direct materials price and quantity variances. $ 513,760 502,320 (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 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. Standard Cost Actual Cost s o S o Required 1