Final: Part 2 (Problems S 10 Lucia Company has set the following standard cost per unit for direct materials and direct labor Direct materials (16 pounds e 14 per pound) Direct labor (4 hours @ $15 per hour) 164 50 During May the company incurred the following actual costs to produce 8,100 units Direct materials (132,100 pounds @ $3.89 per pound! Direct labor (36,580 hours @ $15.18 per hour) 5 501,988 555,688 AR Actual Rate SR Standard Rate i AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price (t) Compute the drect 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. Help Save & Exit Submit Compute the Grect matenais price and quantity variances indicate the effect of each vantanot by acting favorable, unfavorabi, variance. Ac AQ 132.500 AP 126420 AG 132,100 620400 Mandard Co 10 1400 10 (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. 2 Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance) Actual Cost AQ AP 132,100 $ 3.80 $501,980 $20.420 AQ 132,100 x SP x $ 4.00 $ 528,400 $ $ 25,420 of Required Blandand Cast SQ x x SP $4.00 10 (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. 20150 Required 1 Required 2 Compute the direct labor rate variance and the direct labor eficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance Round "Rate per hour" answers to 2 decimal places.) Actual Cost o $ of Cred Standard Cost