Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $4 per lb.) Direct labor (3 hrs. $15 per hr.) $60 45 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (125,500 lbs. Direct labor (28,700 hrs. $3.80 per lb.) $15.10 per hr.). $476,900 433,370 AH Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate : AQ Actual Quantity SQ Standard Quantity AP SP Actual Price 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 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.) Che