During May the company incurred the following actual cost to produce 8,600 units

During May the company incurred the following actual costs to produce 8,600 units Direct materials (124,000 pounds e $4.80 per pound ) oirect labor (37,600 hours e $14.10 per hour ) $595,200 530,169 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. Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds e \$5 per pound) Direct labor ( 4 hours e $14 per hour) $78 During May the company incurred the following actual costs to produce 8,600 units. Direct materials (124, pounds e $4.8 per pound ) Direct labor (37,600 hours e $14.1 per hour) 595,200 530,160 AR=ActualRate SR = Standard Rate AQ= Actual Quentity SQ = Standard Quantity AP= Actual Price SP = Standard Price Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficency variance. wab. tadimate the elfect of each variance by selecting favorable, unfavorable, or noriance, Round "Rate per hour". arswers to 2 decimail places. Compute the direct labor rate variance and the direct labor efficiency variance. (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 variances. Nhth: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance