He Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. $8 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 42.600 lbs. 2 $8.10 per lb. 16,500 hrs. $16.60 per hr. $207,300 8,400 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 favorable or unfavorable Actual Cost Standard Cost 2 of 2 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. 1:53:46 Actual Cost Standard Cost