Direct tuterials Direct labor Overhead Onita manufactured Standard 6 lbs. 67 per lb. 3 ha. @ 617 per he. 3 hrs. @ 611 per hr. Actual 47,200 lba. O 67.10 per 1b. 23,000 hrs. 617.50 per hr. 6263,800 7,800 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) AH - Actual Hours SH - Standard Hours AR - Actual Rate SR = Standard Rate Actual Cost Standard Cost 0 S 0 5 0 D Next as set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (15 lbs. 84 per lb.) Direct labor (4 hrs. 8 614 per hr.) 660 56 dipped During May the company incurred the following actual costs to produce 8100 units. Book Direct materials (123, 600 lbs. 43.80 per lb.) Direct labor (36,800 hrs. @ $14.10 per hr.). Hint 3469, 680 512,880 Brences 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 variance 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 selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal place..) w your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost 0 $ 0 5 0 Required 2 > US DY 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 Cos! $ 0 $ 0 $ 0 0