Exercise $21-12($Algo$)$ Direct materials and direct labor variances LO P$3$

Camila Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials $(15$ pounds @ $$4$ per pound$)$ $ $60$

Direct labor $(3$ hours @ $$16$ per hour$)48$

During June the company incurred the following actual costs to produce $8,700$ units.

Direct materials $(133,000$ pounds @ $$3\mathrm{.}75$ per pound$)$ $ $498,750$

Direct labor $(29,700$ hours @ $$16\mathrm{.}20$ per hour$)481,140$

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.