Lucia Company has set the following standard cost per unit for direct materlals and direct labor. Direct taterlais ( 15 pounds \& $4 per pound) Direct rabor ( 3 hours 9$16 per hour) 560 48 During May the company incurred the following actual costs to produce 8.700 units. oirect aaterials (134,400 pounds e $3.80 per pound ) oirect labor (30, see hours e $16.10 per hour) AR=Actual Rate SR= Standard Rate AQ=Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price (1) Compute the direct materiaks price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency varlance Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficency variance. (Indicate the effect of ench variance by selecting favorable, unfavorable, orn variance, Round "Fate per hour" answers to 2 decmal places.)