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Required information [The following information applies to the questions displayed below) A manufactured product has...

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Required information [The following information applies to the questions displayed below) A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs $8 per tb. 47,988 lbs. 58.10 per lb. Direct labor 3 hrs. e $15 per hr. 23,500 hrs. @ $15.50 per hr. Overhead 3 hrs. $11 per hr. $267,400 Units manufactured 7,900 Compute the direct materials price variance and the direct materials quantity variance (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost +

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