Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 3 hrs. $17 per hr. 3 hrs. @ $12 per hr. Actual 53,800 lbs. @ 58.20 per lb. 26,400 hrs. @ $17.50 per hr. $325,800 8,900 Exercise 21-9 Direct materials variances LO P3 12 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance 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 Standard Cost Actual Cost s 0 0 $ 0 0