A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 5 pounds @ $7 per pound 38,900 pounds @ $7.10 per pound Direct labor 3 DLH @ $15 per DLH 22,700 hours @ $15.50 per hour Overhead 3 DLH @ $11 per DLH $ 260,500 Units manufactured 7,700 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 Actual Cost Standard Cost Direct labor efficiency variance Direct laborrate variance Total direct labor variance Direct materials price variance Direct materials quantity variance Total direct materials variance Total variable overhead cost variance Variable overhead efficiency variance Variable overhead spending variance Total direct labor variance Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance - Total direct materials variance Total variable overhead cost variance Variable overhead efficiency variance Variable overhead spending variance Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or 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 $ 0 $ 0 $ ol