Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variarice by selecting favorable, unfoworable, or no wariance) Required 2 > Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency vanance. (Indicate the effect of each variance by selecting fav variance. Round "Rate per hour" answers to 2 decimal places.) During June the company incurred the following actual costs to produce 8.600 units Direct materials (132,000 pounds 9$3.75 per pound) 5495,000 Direct labor (21,100 hours e $16.10 per hour) 339,710 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: Complete this question by entering your answers in the tabs below