Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ=ActualQuantitySQ=StandardQuantity Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Compute the (1) direct labor rate variance and (2) 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. AH= Actual Hours During May the company incurred the following actual costs to produce 9,000 units. Direct materials (138,000 pounds @ \$3.75 per pound) Direct labor (31,000 hours @ \$15.10 per hour) AR= Actual Rate SR = Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price $517,500 468,100 (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. Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. During May the company incurred the following actual costs to produce 9,000 units. Direct materials (138,000 pounds @ $3.75 per pound) Direct labor (31,000 hours @ $15.10 per hour) $517,500468,100 AR = Actual Rate SR= Standard Rate AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (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. 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