Direct materials (15 pounds @ $3 per pound) Direct labor (3 hours @ $15 per hour) $ 45 45 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (137,900 pounds @ $2.80 per pound) Direct labor (30,900 hours @ $15.15 per hour) AR = Actual Rate SR Standard Rate AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price $ 386,120 (1) Compute the direct materials price and quantity variances. 468,135 (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required Required 1 2 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost AQ AR AQ SR $ 0 $ 0 0 0 Standard Cost SQ SR < Required 1 Required 2