During June the company incurred the following actual costs to produce 8,300 units. Directmaterials(127,400poundsa$4.70perpound)Directlabor(37,200hourse$15.15perhour)$598,780563,580 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. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. During June the company incurred the following actual costs to produce 8,300 units. Oirect naterials (127,400 pounds 9,54,7 01 rect labor (37,200 hours $15,15per AR= Actual Rate SR= Standard Rate AO= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price 0irect naterials (127,460 pounds 9$4,70 per pound) 5,598,780 0irect labor (37,200 hours 515,15 per hour )563,580 (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. (tndicate the effect of each variance by selecting favorable, unfavorable, of no variance, Round "Rate per hour" answers to 2 decimal placesi')