per unit for the pool 21-12 rials and direct ces Reed Corp. has set the following standard direct materials and direct labor costs per un manufactures. Direct materials (10 lbs. @ $3 per lb.)...... Direct labor (2 hrs. @ $12 per hr.)......... During June the company incurred the following actual costs to produce 9,000 units. Direct materials (92,000 lbs. a $2.95 per lb.).. Direct labor (18,800 hrs. a $12.05 per hr.). $271,400 226,540 ............................ Compute the (1) direct materials price and quantity variances and (2) direct labor rate and efficiency v ances. Indicate whether each variance is favorable or unfavorable