k: Flexible Budgets Assignment Saved Help Save & Exit Su Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (16 pounds @ $3 per pound) Direct labor (3 hours @ $14 per hour)) $ 48 42 During May the company incurred the following actual costs to produce 8,000 units.. Direct materials (131,600 pounds @ $2.80 per pound) Direct labor (27,300 hours @ $14.10 per hour) $ 368,480 384,930 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. Complete this auction hu antarina vaur aneware in the take halaw Check my wo 5 Required 1 Required 2 ints Skipped eBook Hint Print References Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavo Actual Cost $ 0 $ 0 0 $ Required Required 2 > Standard Cost Homework: Flexible budgets. Budgets Assignment-Connect Budgets Assignment - Connect Master Budgets Assignment Question 5-Homework: Flexi Homework: Flexible Budgets Assignment Saved Help Save & Exit Submit 3 5 Required 1 Required 2 points Skipped oflook Hint Print References Mc Check my work Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selectir variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost $ 0 $ 0 0 $ 0