Lucia Company has set the following standard cost per unit for direct materials and direct labor. Directmaterials(16poundse$4perpound)Directlabor(4hours$14perhour)$64 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (133,000 pounds 0$3.80 per pound ) Direct labor (36,600 hours \& $14.10 per hour) $505,400 516,060 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. Complete this question by entering your answers in the tabs below. Complete this 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 variance. Round "Rate per hour" answers to 2 decimal places.)