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 (2 hours @ $14 per hour) $ 56 28 During June the company Incurred the following actual costs to produce 8,400 units Direct materials (120,400 pounds @ $3.75 per pound) Direct labor (21,700 hours @ $14.15 per hour) $ 451,500 307,055 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 varlances, (2) Compute the direct labor rate variance and the direct labor efficiency variance Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct matenals price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost AQ v X 120,400 X AP 3 3.75 S 451.500 Price variance Total direct materials vanance Efficiency variance Required 1 Required 2 Standard Cost AQ X SP SQ X SP 120,400 x $14.15 X 117,600 X $4.00 S S 1,703,660 470,400 1252 1.252 160 S Favorable 1,252,160 1.233,260 Favorable S 14,320 Favorable 000 1.233.200 Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour answers to 2 decimal places. Standard Cost Actual Cost AQ 21,700 AR $14.15 $ 307,055 Total direct materials variance Efficiency variance $ 3,255 SQ 21,700 AR $14.00 $303,800 S 3,255 Unfavorable 147.700 Unfavorable 5385,175 Unfavorable S (147,700) SQ 120,400 0 SR $ 3.75 $ 451,500