A manufactured product has the following information for August. Actual Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard 2 lbs. per unit @ $12.00 per lb. 0.5 hours per unit @ $92 per hour $126 per direct labor hour 15,800 $2,096,400 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production in August. (3) Compute the total cost variance for August. (Indicate the effect of each variance by selecting for favo variance) Required 1 Required 2 | Required 3 Compute the standard cost per unit. Direct materials Direct labor Overhead Total Required 1 Required 2 Required 3 Compute the total budgeted cost for production in Total budgeted cost