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Lucia Company has set the following standard cost per unit for direct materials and direct labor. Directmaterials(15pounds&$3perpound)Directlabor(2hours&$16perhour)$4532 During May the company incurred the following actual costs to produce 8,200 units. Directmaterials(126,900pounds&$2.80perpound)Directlabor(20,700hours&$16.10perhour)$355,320333,270 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. (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 moterials price and quantity variances (2) Compute the direct labor rate variance and the ditect iobor efficiency varlance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficlency variance. (Indicate the effect of each variance by seiecting favorable, unfavorable, or no variance- Round "Rate per hour" answers to 2 decimal places.)