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8.Lucia Company has set the following standard cost per unit for direct materials and direct...

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Accounting

8.Lucia Company has set the following standard cost per unit for direct materials and direct labor.
Direct materials (15 pounds e $4 per pound)
$68
Direct labor (3 hours $15 per hour)
45
During May the company Incurred the following actual costs to produce 9,000 units.
Direct materials (138,eee pounds e $3.75 per pound)
$ $17,500
Direct labor (31,0ee hours e $15.10 per hour)
468,100
AR= Actual Rate
SR= Standard Rate
AQ=Actual Quantity
SQ= Standard Quantity
AP= Actual Price
SP= Standard Price
AH= Actual Hours
SH= Standard Hours
(1) Compute the direct materlals price and quantity varlances.
(2) Compute the direct labor rate variance and the direct labor efficlency variance.
Complete this question by entering your answers in the tabs below.
Compute the direct materials price and quantity variances.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Compute the direct labor rate variance and the direct labor efficiency variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.
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