Exerclse 23-12 (Static) Direct materlals and direct labor varlances LO P3 Camila Company has set the following standard cost per unit for direct materials and direct labor: Direct materials ( 10 pounds &$3 per pound) Orrect labor ( 2 hours 8$2 per hour) $2539 During June the company incurred the following actual costs to produce 9.000 units. Direct mater 1a1s ( 92, e9e pounds a^$2.95 per pound) Direct labor (18,800 hours of $12.05 pet hour) 5.271,490226,54e AR= Actual Rate SR = Standard Rate AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance: Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance