Uuring May the company incurred the following actual costs to produce 8,800 units. Direct naterisls ( 135,700 pounds e $3.80 per pound) $515,660 Direct labor (38,400 hours if $16.18 per heur) 613,240 AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=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 Znswers in the tabs below. Direct materials (135,700 pounds $3.80 per pound) Direct labor ( 38,493 hours o $16.10 per hour) $515,660618,240 AR=ActualRateSR==StandardRate AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPtice (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. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by selecting favorabiei unfavorable, oc no vanance. Round "Rate per hour" answers to 2 decimal places.)