A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price Standard 6 lbs. @ $8 per lb. 3 hrs. @ $17 per hr. 3 hrs. @ $12 per hr. Actual Cost 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.) $ 0 $ 0 O O - 0 Actual 51,400 lbs. @ $8.10 per lb. 25,100 hrs. @ $17.50 per hr. $312,800 8,500 $ 0 Standard Cost

A manufactured product has the following information for June. 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