Lucia Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds e \$4 per pound) Direct Labor (3 hours e $15 per hour) During May the company incurred the following octuol costs to produce 9,000 units. Direct materfals (138,0ea pounds ie $3.75 per pound) 5.517,500466,100 Direct Labor (31, 000 hours \& $15.10 per hour) AR= Actual Rate SR= Standard Rate AQ= Actual Quentity SQ = Standard Quantity AP= Actuol Price SP = Standard Price (1) Compute the direct materios price ond quanty variances (2) Compute the direct labor rate variance and the direct iabor efficiency variance Complete this question by entering your answers in the tabs below. exajiced: Reqaired 2 Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Compute the direct fabor rate variance and the direct labor efficiency variance. (findicate the effect of each variance by selecting fa infavorable, or no variance. Round thate per hour ariswers to 2 decimal blaces)