Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (15 lbs. 84 per lb.) Direct labor (3 hrs. @ 515 per hr.) $60 45 During May the company incurred the following actual costs to produce 9000 units. Direct materials (138,000 lbs. @ $3.75 per 16.) Direct labor (31,000 hrs. $15.10 per hr.). $517,500 468, 100 AH = Actual Hours SH=Standard Hours AR = Actual Rate SR - Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances, (2) Compute the direct labor rate variance and the direct labor efficiency variance. Check my v (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. Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Actual Cost Standard Cost 0 $ 0 $ 0 $ 0 0 Required 2 > (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. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) Standard Cost Actual Cont 5 0 $ 0 0