Exercise $23-12($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 @ $$3$ per pound$)$ $ $45$

Direct labor $(3$ hours @ $$15$ per hour$)45$

During June the company incurred the following actual costs to produce $8,900$ units.

Direct materials $(135,500$ pounds @ $$2\mathrm{.}75$ per pound$)$ $ $372,625$

Direct labor $(31,700$ hours @ $$15\mathrm{.}20$ per hour$)481,840$

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.