Direct materials ( 15 pounds e $4 per pound) 560 Direct labor ( 3 hours a $15 per hour) 45 During June the company incurred the following actual costs to produce 8,300 units. Direct naterials (126,900 pounds 93.80 per pound) Direct labor (28,100 hours $15.20 per hour) S 482,220 AR= Actual Rate 427,120 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. Complete this question by entering your answers in the tabs below. (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 variance by selecting favorable, unfavorab) variance. Round "Rate per hour" answers to 2 decimal places.)