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 @ $7.00 per lb. 0.5 hours per unit @ $52 per hour $66 per direct labor hour 13,800 $1,005, 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 favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the standard cost per unit. Direct materials Direct labor Overhead Total 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 @ $7.00 per lb. 0.5 hours per unit @ $52 per hour $66 per direct labor hour 13,800 $1,005, 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 favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total budgeted cost for production in August. Total budgeted cost 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 @ $7.00 per lb. 0.5 hours per unit @ $52 per hour $66 per direct labor hour 13,800 $1,005, 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 favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total cost variance for August. Indicate whether the cost variance is favorable, unfavorable or no variance. Cost variance