M06 Ch 21 Homework i Saved 3 Required Information Use the following Information for the Exercises below. [The following information applies to the questions displayed below.] Part 2 of 3 A manufactured product has the following Information for June. 7.5 Standard Actual Direct materials 6 1bs. @ $8 per 1b. 53,900 lbs. @ $8. 20 per 1b. points Direct labor 3 hrs. @ $16 per hr. 26,400 hrs. @ $16.40 per hr. overhead 3 hrs. @ $11 per hr. $299, 708 01:49:46 Units manufactured 8,908 Book Exercise 21-9 Direct materials variances LO P3 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by Ask 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 AQ X Ap AQ X SP SO X SP 53,900 x S 8.20 53,900 X S 8.00 X 8.00 $ 441,980 $ 431,200 $ 10,780 S 0 $ 10,780