00 8 10 points Saved A company reports the following for one of its products. Direct materials standard (4 pounds @$3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used AQ Actual Quantity $12 per unit 330,000 pounds 68,000 units $ 907,500 SQ Standard Quantity eBook AP Actual Price SP Standard Price Hint Print References Standard Cost Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost Help Sa