Direct materials (15 lbs. 54 per lb.) Direct Isbor (2 hes. $16 per ) $60 12 During June the company Incurred the following actual costs to produce 8700 units. Direct materials (133, 500 lbs. 33.80 per 10.) Direct labor (20,900 hrs $16.10 per te $507,300 336.490 AH Actual Hours SH - Standard Hours 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, (Indicate the effect of each varlance by selecting for favorable. unfavorable, and no variance.) (2) Compute the direct labor rate varlance and the direct labor efficiency variance Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required: Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Stindard Cost 0 $ 0 s 0 $ SR=Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP - Standard Price 16 (1) Compute the direct materials price and quantity vartances. (Indicate the effect of each varlance 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 se for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. ces Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfa Actual Cost Standard Cost 0 $ 0 $ 0