Hutto Corp has set the following standard direct materials and diede labor costs per unit for the product it manufactures 554 Direct Materials 614 10.34 per 10.) Oirect labore $15 per ) During May the company incurred the following actual costs to produce 8,600 units Oirect materials (124, 100 lbs $9.00 per 10 Direct labor (35,600 hrs $15.10 per hr.) 471,500 52.000 AH Actual Hours SH - Standard Hours AR Actual Rate SR Standard Rate AQActual Quantity SQ Standard Quantity AP Actual SP Standard Price (1) Compute the direct materials price and quantity vartances (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate vanance and the direct labor efficiency variance (indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round Rote per hour answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Round 2 Compute the direct materials price and quantity variances Indicate whether each variance is favorable or unfavorable Standard Cosi cuattist 5 0 0