A manufactured product has the following information for June.

Standard Quantity and Cost Actual Results

Direct materials $7$ pounds @ $$8$ per pound $62,800$ pounds @ $$8\mathrm{.}20$ per pound

Direct labor $3$ DLH @ $$15$ per DLH $26,300$ hours @ $$15\mathrm{.}40$ per hour

Overhead $3$ DLH @ $$11$ per DLH $ $299,500$

Units manufactured $8,900$ units

Exercise $21-9($Algo$)$ Direct materials variances LO P$3$

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 PriceUse the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

A manufactured product has the following information for June.

Exercise $21-9($Algo$)$ Direct materials variances LO P$3$

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