Future White Inc. manufactures sunglasses. During march 2017, the company produced 20,000 glasses and recorded the following cost data: Standard cost information Quantity Cost Direct Materials 5 parts $ 0.5 per part Direct Labor 2 hours $ 10 per hour Actual information Direct materials 88,000 parts @ $ 0.45 per parts $ 65,000 Direct Labor 43,000 hours @ $ 10.20 per hour $ 438,600 Requirements: 1. Compute Direct Materials cost and efficiency variances. 2. Compute Direct Labors cost and efficiency variances