Check my work Keea corp. nas set the following standard direct matenais and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $5 per lb.) Direct labor (3 hrs. $16.00 per hr.) $75 48 During June the company incurred the following actual costs to produce 8,800 units. Direct materials (134, 100 lbs. $4.75 per lb.) Direct labor (30,600 hrs $16.10 per hr.). $636,975 492.660 AQ = Actual Quantity SQ - Standard Quantity AP = Actual Price SP - Standard Price AH - Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rate (1) Compute the direct materials price and quantity variances, (2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Check my SR = Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify it as favorable or unfavorable. Actual Cost Standard Cost S 0D Recured 2 > Check my word R = Standard Rate "T) Compute the direct materials price and quantity variances. 2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. 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 whether each variance is favorable or unfavorable. Actual Cost Standard Cost $ 0 ( Required 1