Actual Results A manufactured product has the following information for August. Standard Quantity and Cost Direct materials 2 pounds per unit @ $4.00 per pound Direct labor 0.5 hour per unit @ $28 per DLH Overhead $30 per DLH Units manufactured Total manufacturing costs 12,600 units $ 460,400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total $ 0 Compute total budgeted cost for production in August. Total budgeted cost Required 1 Required 2 Required 3 Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance Lucia Company has set the following standard cost per unit for direct materials and direct labor. 42 Direct materials (15 pounds @ $3 per pound) $ 45 Direct labor (3 hours @ $14 per hour) During May the company incurred the following actual costs to produce 8,700 units. Direct materials (133,000 pounds @ $2.80 per pound) $ 372,400 Direct labor (30,500 hours @ $14.10 per hour) 430,050 AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Required 1 Required 2 Compute the direct labor rate variance and the 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.) Actual Cost Standard Cost