Lucia Company has set the following standard cost per unit for direct materials and direct labor: ofrectnaterials(16poundae$4perpound)Directlabor{3hours&$15perhour)$6445 During May the company incurred the following actual costs to produce 8,500 units: Direct materials (139,000 pounds e$33.80 per pound ) Direct labor (28,600 hours \& $15.10 per hour } $528,200 431,860 AR=Actual Rate SR=Standard Rate AQ= Actual Quantity SO= 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. Complete this question by entering your answers in the tabs below. SR= Standard Rate AQ=Actua Quantity SO= Standard Quantisy AP = Actual Price $P=5 tandard Price (1) Compute the ditect materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complate this question by entering your answers in the tabs below. Compute the drect materiats pheen and quantity variances, (thoicate the effect of esch variance by selecting favorable, unfavorable, of no variance.) SR= Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price (1) Compute the direct materlals price and quantity variances. (2) Compute the direct labor rate varlance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the difect labor rate vriance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorab variance. Found "Rate per hour" answers to 2 decimal places.)