Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.

[The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard (6 lbs. $8 per lb.) (3 hrs. $17 per hr.) (3 hrs. $12 per hr.) Actual 45,400 lbs. $8.10 per lb 22,300 hrs. $17.50 per hr. $276,300 7,500 Direct materials Direct labor Overhead Units manufactured Exercise 23-9 Direct materials variances LO P2 AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Answer is complete but not entirely correct. C Actual Cost Standard Cost SQ AQ AP AQ AP SP X X $ 17.00 $ 8.10 48,000 $ 8.00 45,400 45,400 X X 9 367,740 771,800 384,000 $ 387,800 (404,060) Direct labor rate variance Unfavorable 404,060 387,800 $16,260 Unfavorable Direct labor efficiency variance Unfavorable Total variable overhead cost variance