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Camila Company has set the following standard cost per unit for direct materials and direct labor. Standard Standard Standard Standard costs: Quantity Price Cost Direct materials (10 pounds @ $3 per pound) 10 $3.00 $30 Direct labor (2 hours @ $12 per hour) 2 $12.00 $24 During lune the company incurred the following actual costs to produce 9,000 units. Actual Units 9,000 Actual costs: Direct materials (92,000 pounds @ $2.95 per pound) Direct labor (18,800 hours @ $12.05 per hour) Actual Quantity 92,000 18,800 Actual Actual Price Cost $2.95 $271,400 $12.05 226,540 AR = Actual Rate SR = Standard Rate Required: (1) Compute the direct materials price and quantity variances. (Une cells to E11 from the given information to complete this question and Indicate the effect of each variance by selecting favorable, unfavorable, or no variance) Actual Cost Standard Cost Variance Variance Price variance untity arance Total direct materials variance 2) Compute the direct labor rate variance and the direct labor efficiency variance. (Use cells M to 11 from the given information to complete this question and indicate the effect of each variance by selecting favorable, unfavorable, or no variance) Actual Cost Standard Cost Variance Variance trance hency variance direct labor variance

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