Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. $9 per lb.) (2 hrs. e $16 per hr.) (2 hrs. @ $12 per hr.) Actual 62,200 lbs. @ $9.10 per lb. 17,200 hrs. $16.50 per hr. $216,500 8,800 of 3 Exercise 23-9 Direct materials variances LO P2 bok nt AQ - Actual Quantity SQ - 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 fa or unfavorable, int Actual Cost Standard Cost