Lucia Company has set the following standard cost per unit for direct materials and direct labor. Standard costs: Direct materials (15 pounds @ $4 per pound) Direct labor (3 hours @ $15 per hour) During May the company incurred the following actual Standard Quantity Standard Price Standard Cost 15 $4.00 $60 3 $15.00 $45 Actual Units 9,000 costs to produce 9,000 units. Actual Actual Actual Actual costs: Quantity Price Cost Direct materials (138,000 pounds @ $3.75 per pound) 138,000 $3.75 $517,500 Direct labor (31,000 hours @ $15.10 per hour) 31,000 $15.10 468,100 AR = Actual Rate SR Standard Rate = Actual Quantity AQ= SQ Standard Quantity AP = = Actual Price SP Standard Price