please help me with both required parts of this problem.

required part one below:

required part two below:

thank you for your help!

Exercise 8-11 (Algo) Direct moterials and direct labor variances LO P3 Lucia Convory bas ses the following stendavd cout per int for drect materias and direct labar 5. Duting Mey the company necured the following acsuty couta no prodoce 8,900 unus 3as, en AR=ActuaiPlateSR=StanderdRigeMQ=ActonlQuentitySQ=SianderdQuentitAP=ActialPriceSP=StandsidPrice Conculete this quistion by enteriba your atwores in the tubs betipe: Exercise 8-11 (Algo) Direct materials and direct labor variances LO P3 Lucia Company has set the following standard cost per unit for direct materials and direct labor Direct materials (14 pounds e $4 per pound) Direct labor (2 hours e $15 per hour) 356 Duning May the company incurred the following actual costs to produce 8,900 units. Direct materials (127,8ea pounds e $3,89 per pound) Direct labor (22,700 hours e $15.10 der hour) (5 455,640 342,770 AR= Actual Rote SR= Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity voriances. (2) Compute the direct labor rote variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable; or no variance, Round "Rate per hour" answers to 2 decimal places