Lucla Company has set the following standard cost per unit for direct materials and direct labor. Direct aaterials (14 pounds e \$4 per pound) Direct labor ( 2 hours &$14 per hour) During May the company incurred the following actual costs to produce 8,900 units. Direct naterials (127,700 pounds a 33,50 per peund ) oirect labor (21,100 hours 514,10 per hone ) Direct labor (21,100 hours 8514 , is per hour) 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. ap - whichors verominy 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. (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance Consplete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance, (thdicate the affect of each variance by telecting favorable, unfavorable, bf ne Variance, Round "thate per hour" answers to 2 decinat placesi)