Lucla Company has set the following standard cost per unt for direct materials and direct labor. Oirect naterials (15 pounds a 54 per polit oirect labor ( 3 hours \& 515 per hour) i) 60 During May the company incurred the following actual costs to produce 9.000 units Direct naterlals (130,000 pounds e 53.75 per poun oirect labor (31,0s4 hours p $15.10 per hour) AR= Actual Rate SR=5 tandard Rate AQ= Actual Quantify. SO= Standard Quantity AP= Actual Price SP = Standard Price (1) Compute the direct materlals price and quantity variances. (2) Compute the direct labor tate vatiance and the direct labor efficiency variance: Complete this question by entering your answers in the tabs below. Compute the direct materials pice and quasntity vaciances. (Indicate the effect of each variance ty selicting favorable, unfavocabies, or no variance.) Lucla Company has set the following standard cost per unit for direct materials and direct labor. Oirect naterials (25 pounds e $4 per pound) otrect labor (3 bours 8.515 per hour) During May the company incurted the following actual costs to produce 9.000 units: AR= Actual Rate SR=S tandard 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 elficiency varlance Complete this question by entering your answers in the tabs below. urfavorable, of no variance, fhound trate per haor answers to 2 decimat placesi)