Help Save & EN Submit 3 Check my work Hutto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (14 lbs. $) per 1b.) Direct labor ( 2.515 per hr.) $42 30 5 During May the company incurred the following actual costs to produce 8.500 units DO Direct materials (121,eee ibs $2.5e per lb.) Direct labor (2e, 2eens. $15.1e per hr.): $938,800 des,e20 AH = Actual Hours SH Standard Hours AR - Actual Rate SR Standard Rate AQ = Actual Quantity SO Standard Quantity AP Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable. MC Homework Help ever Check my work (1) Compute the direct materials price and quantity variances indicate the effect of each variance by selecting for favorable unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct material price and quantity variance Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cost 5 0 5 0 5 Check my work (1) Compute the direct materials price and quantity variances (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each aiance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required: Required 2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable Actual Cost Standard cost 5 0 5 D 5