Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (16 pounds $5 per pound) Direct labor (2 hours $16 per hour) $ 80 32 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (131,900 pounds $4.80 per pound) Direct labor (20,100 hours @ $16.10 per hour) $ 633,120 323,610 AR = Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity 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.