Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $4 per pound) $ 60 Direct labor (2 hours @ $15 per hour) 30 During May the company incurred the following actual costs to produce 8,500 units. Direct materials (129,600 pounds @ $3.80 per pound) $ 492,480 Direct labor (21,500 hours @ $15.10 per hour) 324,650 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.