Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds $4 per pound) Direct labor (3 hours @ $15 per hour) $ 60 45 During May the company incurred the following actual costs to produce 9,000 units. Direct materials (138,000 pounds @ $3.75 per pound) Direct labor (31,000 hours @ $15.10 per hour) AR Actual Rate SR Standard Rate AQ Actual Quantity SQ = Standard Quantity AP SP Actual Price Standard Price AH Actual Hours SH Standard Hours $ 517,500 468,100 (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. Required 1 Required 2 Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost AQ X AP AQ X SP X X $ 0 $ 0 0 $ [0 Standard Cost SQ X SP X Required 1 Required 2 >