Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. $16 per hr. 2 hrs. @ $12 per hr. Actual 54,000 lbs. @ $8.20 per lb. 17,500 hrs. @ $16.50 per hr. $218,700 8,900 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 $ 0 $ 0 $ 0 0