Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (10 pounds @ $3 per pound) $ 30 Direct labor (2 hours $12 per hour) 24 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (92,000 pounds @ $2.95 per pound) Direct labor (18,800 hours @ $12.05 per hour) $ 271,400 226,540 Book AR = Actual Rate SR = Standard Rate Hint AQ = Actual Quantity SQ - Standard Quantity AP = Actual Price SP = Standard Price rint (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. rences 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 Standard Cost 5 Camila Company has set the following standard cost per unit for direct materials and direct labor. ts Direct materials (10 pounds @ $3 per pound) $ 30 Direct labor (2 hours @ $12 per hour) 24 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (92,000 pounds @ $2.95 per pound) $ 271,400 Direct labor (18,800 hours $12.95 per hour) 226,540 eBook AR = Actual Rate SR = Standard Rate Hint AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Print (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. ferences 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.) Actual Cost Standard Cost