During May the company incurred the following actual costs to produce 8,100 units. Direct materiats (123,900 pounds $3.80 per pound) oirect labor (20,000 hours e $15.10 per hour) $470,820302,006 AR= Actual Rate SR= Standard Rate AQ=ActualQuantity 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. Lucia Company has set the following standard cost per unit for direct materials and direct labor. Directmaterlals(15poundse$4perpound)Directtabor(2hours$15perhour)$6030 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (123,900 pounds 0.$3.80 per pound) Direct labor (28, e0e hours e $15.10 per hour) $479,820 302,000 AR=ActualRateSR=StandardRate 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. Compute the direct labor rate variance and the direct labor effiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no varlance. Round "Rate per hour" answers to 2 decimal places.)