Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct nateriats (15 pounds e $3 per pound) Direct labor (2 hours 2$16 per hour)? During May the company incurred the following actual costs to produce 8,700 units. Direct materials (133,200 pounds e $2,80 per pound ) Direct Labor (21,960 hours e $16.10 per hour) 5372,960 352,590 AR= Actual Rate SR = Standard Rate AQ= Actual Quantity SQ=5 tandard 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Complete thls question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorabie, of no variance. Round "fote per hour" answers to 2 decimal places.)