Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $4 per pound) Direct labor (3 hours @ $15 per hour) $ 56 45 During June the company incurred the following actual costs to produce 8,200 units. Direct materials (117,600 pounds @$3.75 per pound) Direct labor (29,100 hours @ $15.15 per hour) $ 441,000 440,865 AR = Actual Rate SR Standard Rate AQ Actual Quantity = SQ Standard Quantity = AP = Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances. (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 materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost $ 0 $ 0 0 $ 0 Standard Cost Come Company has SOLICITIumy stumper MLIVE Direct materials (14 pounds @ $4 per pound) Direct labor (3 hours @ $15 per hour) $ 56 45 During June the company incurred the following actual costs to produce 8,200 units. Direct materials (117,600 pounds @ $3.75 per pound) Direct labor (29,100 hours @ $15.15 per hour) Actual Rate = AR SR Standard Rate = AQ Actual Quantity SQ Standard Quantity Standard Price AP = Actual Price SP $ 441,000 440,865 (1) Compute the direct materials price and quantity variances. (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. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost $ 0 $ 0 0 $ 0 Standard Cost