Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures During June the company incurred the following actual costs to produce 8,900 units. AH= Actual Hours SH= Standard Hours AR= Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Ouantity AP= Actual Price SP s Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favc unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. SP - 5tandard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. SQ= Standard Cuantity AP= Actual Price 5P= Standard Price (1) Compute the direct materiais price and quantity variances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below