Directmaterials(117,200poundDirectlabor(20,600hours2AR=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. Compute the direct materials price and quantity vanances. (Indicate the effect of each variance by selecting favorable, unfav Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or na Required 2> Compute the direct labor rate variance and the drect labor efficiency vanance. (Indicate the effect of each variahce by sefecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)