Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198, eee 8, eee Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June, Indicate whether the cost variance is favorable or unfavorable Total cost variance Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each vari unfavorable. AQ = Actual Quantity SQ = Standard Quantity P = Actual Price SP = Standard Price Actual Cost AQ X 265,000 X Standard Cost XI SP SP SQ AP $ 4.05 1,073,250 $ 0 $ 0 $ Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is fa unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost $ $ 0 $ 0