A manufactured product has the following Information for June. Direct materiais Direct labor Overhead Units manufactured Standard 6 lbs. $7 per lb. 3 hrs. $15 per he. 3 hrs. 911 per hr. Actual 53,400 lb. 67.10 per 1b. 26,000 hrs. $15.50 per hr. $296,900 8,800 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and 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 Standard Cost