AR=ActualRateSR=5tandardRate AQ= Actual Quantity SQ=$tandard Quantity AP= Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances, (2) Compute the direct labor rate and efficiency variances. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. (Indicate the effect of each vanaince by selectiog favorable, unfavprable, or no variance.)