Lucia Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials (16 pounds @ $5 per pound)	$ 80
Direct labor (2 hours @ $14 per hour)	28

During May the company incurred the following actual costs to produce 9,000 units.

Direct materials (147,300 pounds @ $4.80 per pound)	$ 707,040
Direct labor (21,900 hours @ $14.10 per hour)	308,790

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.