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 8,100 units AH= Actual Hours 5H= Standard Hours 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 quantify variances. (indicate the effect of each variance by selecting for favorable, unfayorable, 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, Ind cate whether each variance is favorable or unfayorable. AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (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. AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (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