Direct materials (14 pounds @ $4 per pound)	$ 56
Direct labor (2 hours @ $15 per hour)	30

During May the company incurred the following actual costs to produce 8,600 units.

Direct materials (123,700 pounds @ $3.80 per pound)	$ 470,060
Direct labor (21,900 hours @ $15.10 per hour)	330,690

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.