Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $4 per pound) Direct labor (4 hours @ $14 per hour) During May the company incurred the following actual costs to produce 8,100 units. Direct materials (124,600 pounds @ $3.80 per pound) Direct labor (36,400 hours @ $14.10 per hour) AR Actual Rate SR Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price $ 60 56 (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 $ 473,480 513,240

Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds \& $4 per pound) Direct labor (4 hourm $14 per bour) During May the company incurred the following actual costs to produce 8,100 units. (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. (1) Compute the direct materials peice and quantty variances. (2) Compute the direct labor rate variance and the direct labor mficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances Note: Indicate the effect of each variance by selecting favorabie, unfavorable, of no variance. (1) Compute the direct materials price and quantity variances (2) Compute the direct labor rate variance and the direct labor etficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Aound "Rate per hour' answers to 2 decimal ploces