Direct moterials ( 14 pounds 253 per pound) Dlrect labor (4 hours 8714 per hour) 5456 During May the company incurred the following actual costs to produce 8,200 units. Dlrect materlals ( 118,800 pounds 9 \$2.80 per pound) Oirect lobor (36,203 hours \& $14,19 per haur ) AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (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. (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. (Inofcate the affect of each variance by lotecting favorable, unfavorable, ar no variance, Round "Rate per hour" answers to 2 decimal places.)