Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (16 pounds 55 per pound) Direct labor 3 hours $15 per hour) $ 80 48 During June the company incurred the following actual costs to produce 8,700 units Dirent materials (141,200 pounds $4.70 per pound) Direct labor (29,300 hours $16.10 per hour) 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. $663,640 471,730 (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 11 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 Standard Cost