Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2 Actual Results Overhead A manufactured product has the following information for August Standard Quantity and cost Direct materials 2 pounds per unit @ $7.50 per pound Direct labor e.5 hour per unit @ 556 pee OLH $72 per DLH Units manufactured Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit (2) Compute total budgeted cost for production in August (3) Compute the total cost variance for August 14,000 units $ 1,104,400 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total Required 2 > Required 1 Required 2 Required 3 Compute total budgeted cost for production in August. Total budgeted cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance