Exercise $23-12($Static$)$ 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.

Direct materials $(10$ pounds @ $$3$ per pound$)$

$$30$

Direct labor $(2$ hours @ $$12$ per hour$)$

$24$

During June the company incurred the following actual costs to produce $9,000$ units.

Direct materials $(92,000$ pounds @ $$2\mathrm{.}95$ per pound$)$

$$271,400$

Direct labor $(18,800$ hours @ $$12\mathrm{.}05$ per hour$)$

$226,540$

$AR=$ 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.