A manufactured product has the following information for June.

	Standard	Actual
Direct materials	6 lbs. @ $7 per lb.		50,900	lbs. @ $7.10 per lb.
Direct labor	3 hrs. @ $16 per hr.		24,900	hrs. @ $16.50 per hr.
Overhead	3 hrs. @ $13 per hr.	$	333,600
Units manufactured			8,400

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

SP = Standard Price Actual Cost Standard Cost $ O $ O $ 0 0