Direct materials (15 lbs. 35 per lb.) Direct labor (hrs. $15.00 per hr.) During June the company incurred the following actual costs to produce 8,600 units. Direct materials (131,200 lbs. 54.75 per lb.) Direct labor (29,000 hrs. $15.10 per hr.). $623,200 437,900 AQ - Actual Quantity SO 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. Requrd 1 Required 2 Compute the direct materials price and quantity variances and classify it as favorable or unfavorable. Actual Cost Required 1 Required 2 Compute the direct materials price and quantity varia Actual Cost Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance 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 favore 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 un Actual Cost Standard Cost