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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $9 per lb. 3 hrs.

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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $9 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 53,900 lbs. @ $9.20 per lb. 26,300 hrs. @ $16.40 per hr. $299,800 8,900 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance 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 Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. $9 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 53,990 lbs. @ $9.20 per lb. 26,300 hrs. @ $16.40 per hr. $299,800 8,900 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance b 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

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