There are 2 PARTS to the question please make sure you answer ALL 2 PARTS. Thanks

Jones Co. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materiala (14 lbo. $4 per 1b.) Direct labor (4 hrs. $15 per hr.) $56 60 During May Jones Co, incurred the following actual costs to produce 8,200 units. Direct materials (117,000 lbs. @ $3.80 per lb.) Direct labor (36,500 hrs. $15.10 per hr.). $444,600 551, 150 AQ = Actual Quantity SO = Standard Quantity AP = Actual Price SP = Standard Price AH = Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or Required 1 Required 2 Compute the direct materials price and quantity variances and classify it as favorable or unfavorable. Actual Cost Standard Cont RE Required 2 > LUNE Blavorable or Complete this question by entering your answers in the tabs below. Required 1 Requirja 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost