Question: please help and answer all Exercise 23-11 (Algo) Direct materials and direct labor variances LO P3 Lucia Company has set the following standard cost per


Exercise 23-11 (Algo) Direct materials and direct labor variances LO P3 Lucia Company has set the following standard cost per unit for direct materials and direct labor. During May the company incurred the following actual costs to produce 8,100 units. Directmaterials(133,400pounds&$4.80perpound)Directlabor(28,400hours&$14.10perhour)$40,320460,440 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 question by entering your answers in the tabs below. 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 sielecting favorable, unfavorable, or ni variance, Round "Rate per hour" answers to 2 decimal places.)
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