Direet materiala (122,500 pounds 133.75 per pound) Diroct labor (20,100 houra i. 515,20 , per hour) 3.459,375 457,520 AR= Actual Rate SR= Slandard Rate AQ= Actual Quantity SQ=StandardQuantty AP= Actual Price SP= Standard Price (5) 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 variances. (Indicate the effect of each variance by selecting fovorable, unfavorable, or no variaf