Direct materials Direct labor Overhead Standard 5 lbs. $7 per lb. 2 hrs. @ $16 per hr.. 2 hrs. @ $11 per hr.. Units manufactured. Actual 43,100 lbs. @ $7.20 per lb. 16, 600 hrs. 8 $16.50 per hr. $193,300 8,500 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 Actual Cost Standard Cost Prev 1 2 of 4 Next >