A manufactured product has the following Information for June. Standard Quantity and Cost Direct materials Actual Results 6 pounds @ $8 per pound Direct labor 47,200 pounds @ $8.20 per pound 3 DLH @ $17 per DLH 23,080 hours @ $17.40 per hour Overhead 3 DLH @ $11 per DLH $ 262, 800 Units manufactured 7,800 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Standard Cost ances Actual Cost