The following information describes production activities of Mercer Manufacturing for the year: Actual raw materials used 22,000 lbs. at $4.35 per lb. Actual factory payroll 6,575 hours for a total of $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pounds of raw material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. (1)Compute the direct materials price and quantity variances. (Round your answers to 2 decimal places.) Actual Cost Standard Cost (2) Compute the direct labor rate and efficiency variances. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ 0 $ 0 $ 0