The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct materials Standard quantity and rate per unit for direct labor 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 and efficiency variances. 16,200 pounds at $4.15 per pound 16,835 hours at $21 per hour 30,400 0.50 pound at $4.10 per pound 0.50 hour at $22 per hour