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

Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead Units manufactured (6 lbs. 8 per lb.) 44,900 lbs. $8.10 per lb. (2 hrs. $15 per hr. 14,600 hrs. $15.60 per hr (2 hrs. $13 per hr.) S199,300 7,400 AQ Actual Quantity SO 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. Actual Cost Standard Cost