Lucia Company has set the following standard cost per unit for direct materlak and direct laboe. Direct materials (25 pounds e $4 per pound) ourect labor (3 hours e $15 per hour) 560 45 During May the company incurred the following actual costs to produce 9,000 units. Direct moteriats (138, eee pounds e $3.75 per pound) 517,500468,100 Direct tabor $31, e00 hours a $15.10 per hour) 517,506 468,100 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. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. During May the compony incurred the following octual costs to produce 9,000 units. Direct materiats (138, 000 pounds e $3.75 per pound) Direct labor (31, eed hours a 515.10 per bour) 5517,500468,100 AR= Actuat Rote SR= Stendard Rote 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. Complete this quention by entering your answers in the tabs below. Compute the direct labor rate varlance and the direct labor efficiency variance. Note: Indicote the effect of each variance by solecting favorable, untavorable, or ho variance, Round thate per tho