A manufactured product has the following information for June Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. 58 per 1b. 2 hrs $16 per te. 2 hrs. 512 per hr. Actual 42, dee lbs. 38.10 per lb. 13,60 hrs. $16.5e per hr. $174,100 7.000 Compute the direct materials pnce variance and the direct materials quantity vartance indicate the effect of each varlance by selecting for favorable, untevorable, and no varlance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity SQ - Standard Quantity AP - Actual Price SP- Standard Price Actual Cost Standard Cost 3 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) AH = Actual Hours SH - Standard Hours AR = Actual Rate SR Standard Rate Actual Cost Standard Cost 5 0 3 o 5 D