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 (3 hours $16 per hour) $ 60 48 During May the company incurred the following actual costs to produce 8,800 units. Direct materials (134,100 pounds @ $3.80 per pound) Direct labor (29,800 hours $16.10 per hour) AR Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price $ 509,580 479,780 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.