A manufactured product has the following information for June. Standard Actual 6 lbs. @ $8 per lb. Direct materials Direct labor Overhead 47,900 lbs. @ $8.20 per lb. 23,400 hrs. @ $16.50 per hr. 3 hrs. @ $16 per hr. 3 hrs. @ $12 per hr. $290, 100 7,900 Units manufactured Exercise 21-9 Direct materials variances LO P3 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 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 0 $ $ $ GA 0 O O 0 0