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 @ $16 per hour) $ 60 64 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (124,300 pounds @ $3.80 per pound) Direct labor (37,000 hours @ $16.10 per hour) AR = Actual Rate $ 472,340 595,700 SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP SP Actual Price 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. Required 1 Required 2 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. Round "Rate per hour" answers to 2 decimal place Actual Cost $ 0 $ 0 0 > $ 0 Required 1 Required 2 Standard Cost