During May the company Incurred the following actual costs to produce 8,000 units. Directnaterials(114,600pounds$3.89perpound)Directlabor(27,200hours(f$14.10perhour)$435,480383,520 AR= Actual Rate SR= Standard Rate AQ=ActualQuant/ty SQ= Standard Quantity AP= Actual Price SP= Standard Prlce (1) Compute the direct materlals prlce and quantity varlances. (2) Compute the direct labor rate varlance and the direct labor efficlency varlance. Complete this question by entering your answers in the tabs below. Durling May the company Incurred the following actual costs to produce 8,000 units. AR= Actual Rate SR= Standard Rate AQ=Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Prlce (1) Compute the direct materlals prlce and quantlty varlances. (2) Compute the direct labor rate varlance and the direct labor efficlency varlance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)