12 of 3 A manufactured product has the following information for June. Direct materials Standard Quantity and Cont 7 pounds $8 per pound ents 02-16.00 Direct labor 3 DL $16 per DLH Overhead 3 DLH $11 per DLH Units manufactured Actual Results 50,900 pounds $8.20 per pound 21,200 hours $16.60 per hour $243,000 7,200 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit answers to 2 decimal places.) AQ Actual Quantity eBook References SQ Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost