Exercise $21-12($Algo$)$ Direct materials and direct labor variances LO P$3$

Camila Company has set the following standard cost per unit for direct materials and direct labor.During June the company incurred the following actual costs to produce $8,600$ units.Direct materiats $(131,900$ pounds & $$3\mathrm{.}80$ per pound$)$Direct labor $(29,700$ hours & $$15\mathrm{.}15$ per $$449,220$hour$)$hour$)$AR$=$ Actual RateSR$=$ Standard RateAQ$=$ Actual QuantitySQ$=$ Standard QuantityAP$=$ Actual PriceSP$=$ 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.

Compute the direct materials price and quantity variances. $($Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.$)$