Lucla Company has set the following standard cost per unit for direct materlals and direct labor. During May the company Incurred the following actual costs to produce 9,000 units. Directmaterials(129,10pounds@$2.8perpound)Directlabor(31,5ehours$16.10perhour)$361,480597,150 AR= Actual Rate SR= Standard Rate AQ=ActualQuantlty SQ= Standard Quantity AP= Actual Price SP= Standard Price (1) Compute the direct materlals price and quantlty varlances. (2) Compute the direct labor rate varlance and the direct labor efficlency varlance. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)