[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. (Indicate the effect of each variance by selecting avorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) H=ActualHoursH=StandardHoursR=ActualRateR=StandardRate Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materfals ( 15 pounds 8$4 per pound) Direct labor ( 2 hours e $15 per hour) $60 30 During May the company incurred the following actual costs to produce 8,300 units. Direct materials (128,200 pounds $3.80 per pound) Direct labor (21,400 hours o $15.10 per hour ) \$ 487,160 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. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Required information [The following information applies to the questions displayed below] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5DLH per unit. The company reports the following for this period. 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 27,250DLH, computed as 54,500 units 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) SR=StandardRateAQ=ActualQQuantitySQ=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