Camila Company has set the following standard cost per unit for direct materials and direct labor. Directmaterials(16pounds&$5perpound)Directlabor(3hours&$15perhour)$8045 During June the company incurred the following actual costs to produce 8,900 units. Directmaterials(145,000pounds&Directlabor(31,500hours&$15.20perhour)$4.75perpound)478,800$688,750 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. Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or Camila Company has set the following standard cost per unit for direct materials and direct labor. Directmaterials(16pounds&$5perpound)Directlabor(3hours&$15perhour)$8045 During June the company incurred the following actual costs to produce 8,900 units. Directmaterials(145,000poundse$4.75perpound)Directlabor(31,500hours&$15.20perhour)$688,750478,800 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. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorat variance. Round "Rate per hour" answers to 2 decimal places.)