7 Part 2 of 3 1.87 points ! Required information [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 Standard Quantity and Cost 5 pounds @ $8 per pound 3 DLH @ $15 per DLH 3 DLH @ $12 per DLH eBook Actual Results 44,000 pounds @ $8.20 per pound 25,800 hours @ $15.50 per hour 8,700 units $ 318,300 Hint Print 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 SQ = Standard Quantity AP = Actual Price SP=Standard Price References Actual Cost Standard Cost