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 Actual Results 35,500 pounds @ $8.20 per pound 20,700 hours @ $15.40 per hour $ 258,800 7,000 units Exercise 23-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: 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 Actual Cost $ 0 $ 0 0 $ Standard Cost