Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (14 lbs. @ $3 per lb.) Direct labor (3 hre. $16 per hr.) During May the company incurred the following actual costs to produce 8,900 units. Direct materialo (128,000 lb : 52.80 per 15.) Direct labor (30,300 hrs. 616.10 per hr.). $358,400 487,830 AH = Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rete AQ - Actual Quantity SQ - 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, unfavorable, and no variance.) (2) Compute the direct labor rote 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.) Compute the unfavorable, and no varlance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by selec 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 materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cont Required Required 2 > (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by 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 labor rate variance and the direct labor efficiency varlance. Indicate whether each varlance is favorable or un Actual Cost Standard Cost