A manufactured product has the following information for June.

	Standard	Actual
Direct materials	(5 lbs. @ $8 per lb.)		42,900	lbs. @ $8.10 per lb.
Direct labor	(3 hrs. @ $16 per hr.)		25,200	hrs. @ $16.50 per hr.
Overhead	(3 hrs. @ $11 per hr.)	$	287,400
Units manufactured			8,500

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.

Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost $ 0 $ 0 0