09 Required Information Use the following Information for the Exercises below. [The following information applies to the questions displayed below] A manufactured product has the following information for June. Direct materials, Direct labor Overhead Units manufactured 6 lbs. 3 hrs. @ $15 per hr. 3 hrs. $11 per hr. Standard $7 per 1b. Actual 45, 600 lbs. @$7.10 per 1 22,300 hrs. @$15.60 per hr. $254,100 7,500 Exercise 21-9 Direct materials variances LO P3 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 AP SP Standard Quantity Actual Price Standard Price