Direct materials ( 133,09 pounds $3.89 per pound) $505,400 Direct labor (21,760 hours $14.2 per hour) 398,140 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. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Camila Company has set the following standard cost per unit for direct materials and direct labor. Directmaterials(15pounds@$4perpound)Directlabor(2hours$14perhour)$6028 Direct materials (15 pounds $4 per pound) \$ $66 Direct labor (2 hours 914 per hour) 28 During June the company incurred the following actual costs to produce 8,700 units. Direct materials ( 133 , ee pounds @$3.80 per pound) $595,400 Direct labor (21,76e hours $14.29 per hour) 308,149 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. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places