Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $4 per lb.) Direct labor ( hrs. $15 per hr.) Sosis 15.) 588 points During May the company incurred the following actual costs to produce 9,000 units. Direct materiale 18.000 lbs. ).75 per 1.) Direct labor 31.000 hrs. 515.10 per hr.). $517.500 468,100 AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP Standard Price AH - Actual Hours SH - Standard Hours AR - Actual Rate SR Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct laborate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable points Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify it as favorable or unfavorable Actual Cost Standard Cost (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable pois Book Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cost