Lucia Company has set the following standard cost per unit for direct materials and direct labor. 0irect materials (15 pounds e s4 per pound) oirect labor (2 hours e \$15 per hour) 5030 During May the company incurred the following actual costs to produce 8.100 units. Direct inaterials (124,16e pounds e \$3.8e per pound) birect labor (19, see hours e s15.16 per hour) AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (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. Compute the direct materials price and quantity variancedi. Nobs: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Lucia Company has set the following standard cost per unit for direct materials and direct labor: birect paterials ( 15 pounds e 34 per pound) pirect laboe (2 hours es 315 per hour) 6330 During May the company incurred the following actual costs to produce 8.100 units. Oirect materials (124,160 pounds e 53.80 per pound) Direct labor (19, 86e hours e \$25.10 per hour) AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SQ=Standard Qutity 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. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. Notei Indicate the effict of each voriance by selecting favorable, unfavorable, oc no variance. Round "Rate per hour" answers to 2 decimal places