Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $3 per pound) Direct labor (3 hours $14 per hour) $ 42 42 During June the company incurred the following actual costs to produce 8,500 units. Direct materials (121,200 pounds @ $2.75 per pound) Direct labor (29,000 hours @ $14.20 per hour) $ 333,300 411,800 AR SR AQ = Actual Rate Standard Rate Actual Quantity SQ = Standard Quantity AP SP Actual Price Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. es Required 1 Kequirea z Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Reculed Required 2 D Standard Cost Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or n variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost B