birect asterials (as pounds A 11 per pound) oirect labor (3 hours is 515 per hour) Dunng May the company incurred the following actual costs to produce 8,800 unlis Jirect materials (23s, see pounds 8 12. ee per pound) birect labgr (7e, 7e0 nours 8515.28 per hour) 1. 300,520 463,570 AR-ActualRoteSR=StandatdRateAQ=ActuatQuantitySQ=StandardQuantityAP=ActualPince.SP=StandardPrice (1) Compote the direct motenals price and quontity vanancec (2) Compute the direct labor rate variance and the direct iabor emiclency variance. Complete this question by entering your answers in the tabs helow