Saved

Lucia Company has set the following standard cost per unit for direct materials and direct labor.$$6445$During May the company incurred the following actual costs to produce $8,500$ units.Direct materials $(139,600$ pounds @ $$3\mathrm{.}80$ per pound$)$Direct labor $(29,800$ hours @ $$15\mathrm{.}10$ per hour$)$

$$530,480$

$449,980$

$AR=$ Actual Rate

$SR=$ Standard Rate

$AQ=$ Actual $Q$ uantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

AH $=$ Actual Hours

$SH=$ Standard Hours

$(1)$ 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.

Required $1$

Required $2$

Compute the direct materials price and quantity variances.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.