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Can i please get help answering this question? Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the

Can i please get help answering this question?

Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

Direct materials (14 lbs. @ $4 per lb.) $56
Direct labor (4 hrs. @ $16 per hr.) 64

During May the company incurred the following actual costs to produce 8,700 units.

Direct materials (124,400 lbs. @ $3.80 per lb.) $ 472,720
Direct labor (38,900 hrs. @ $16.10 per hr.). 626,290

1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.)

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