Simon Company set the following standard costs for one unit of its product The standard overhead rate (\$18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level The company incurred the following actual costs when it operated at 75% of capacity in October- Required: (1) Compute the direct materials cost variance, including its price and quantity variances: (2) Compute the direct labor cost variance, including its rate and efficiency variances. AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice