Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) Direct labor (4 hours@ $16 per hour) During May the company incurred the following actual costs to produce 8,900 units. Direct materials (128,300 pounds @ $4.80 per pound) Direct labor (38,700 hours @ $16.10 per hour) AR Actual Rate SR Standard Rate AQ = Actual Quantity SQ=Standard Quantity AP Actual Price SP Standard Price $70 64 (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 $ 615,840 623,070

Lucia Company has set the following standard cost per unit for direct materials and direct labor: oirect materiels (14 pounds e 55 per pound) oirect labor (4 hours e 516 per hour) During May the company incurred the following actual costs to produce 8,900 unts Oirect naterials (128,300 pounds 9 s4, se per pousd ) odrect labor (38,700 hours es \$16.7a per hour) AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuanttyAP=ActualPriceSP=StandardPrice (1) Compure 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