Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds $5 per pound) Direct labor (3 hours $16 per hour) $ 70 48 During June the company incurred the following actual costs to produce 8,600 units. Direct materials (123,300 pounds $4.80 per pound), Direct labor (30,300 hours @ $16.15 per hour). $ 591,840 489,345 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.