Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $5 per lb.) Direct labor (2 hrs. 516 per hr.) During May the company incurred the following actual costs to produce 8,800 units. Direct materials (134,000 lbs. 54.80 per lb.) Direct labor (22,400 hrs $16.10 per hr.). $643,200 360,640 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 (2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Answer is not complete. Complete this question by entering your answers in the tabs below. (1) Compute the direct matends price and quantity Valances (2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Answer is not complete. 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. Actual Cost Standard Cost AH Direct laborate variance Direct labor efficiency variance Total drect labor variance 00 Unfavorable U vorable Unfavorable