Lucia Company has set the folowing standord cost por urit for direct materids sha divect lation Diroet matinialin (1s powndn o sis per pouna) During May the compary incurred the following actual costs to produce 8,400 unvts. 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. Compiete this quention by entering your answwern in the tabe below. no variance, Round "Rate per hour" answ? irs to 2 detcimal places.) Lucla Company has ser the following standard cost per unit for direct materiats and direct labor. Birect nateriale (16 poundn e 55 per pound) birect labor (2 houre 514 per hour) During May the company incurred the following actual costs to produce 8,100 units Direct materiala (133,200 pounde $54,80 per pound) pirece labor (20,600 hourin o $14.10 per hour ) 56,39,360 290,460