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please answer asap Lucia Company has set the following standard cost per unit for direct materials and direct labor Direct materials ( 16 pounds @$4
please answer asap Lucia Company has set the following standard cost per unit for direct materials and direct labor Direct materials ( 16 pounds @$4 per pound) oirect labor (3 hours \& 515 per hour) $6445 During May the company incurred the following actual costs to produce 8,900 units. Direct materials (146,300 pounds e $3.80 per pound ) Direct labor (31,500 hours e $15.10 per hour) 5555,940475,650 AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SQ=StandardQuantity 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 fabor efficiency yarlance Compute the direct materials price and quantity variances. Note: 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. Note: Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance, Round "Rate per hout" answers to 2 decimal places
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