Lucla Company has set the following standard cost per unit for direct materials and direct labor, pirect ateriale (36 powade + is per pound) birect labor (4 haura is is pet hour) 180 During May the company incurred the following actual costs to produce 8,200 units Direct materiale (13),600 pounda $4.00 per pound) Direct 1abor (3),000 houra 4.115 .10 per bour) 5641,250 AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SQ = Standard Quanty 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. Requered 1 Compute the direct materials price and quantity variances. (thdicate the effect of each varlance by selecting fovorable, unfavorable, or no varlance) Lucla Company has set the following standard cost per unit for direct materials and direct labot. Direct naterialn (16 pousds is is per pound). birect labor (4 bours is 515 per hour) 500 During May the company incurred the following actual costs to produce 8,200 units. Direct materials (133,600 pounds is $4.90 per pound ) 4. 641,290 birect labor [37,000 hours +915.10 per bour ) 558,700 AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SO = 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. Required 1 Required 2 Compute the direct labor rate vanance and the direct labor efficiency variance. (indicate the effect of each variance by selecting favorable, unfavonable, or no variance. Round "Rate per hour" answers to 2 decimal places.)