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Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June Standard Quantity and Cont Actual Results Direct materials 6 pounds so per pound 48,500 pounds $8.10 per pound Direct labor 2 DL 516 per bal 15,700 hours $16.50 per hour Overhead 2 DL $12 per DLR $ 190,000 Units manufactured 8.000 unita Compute the (1) direct materials price variance and (2) direct materials quantity variance (Indicate the effect of each variance by selecting favorable, unfavorable, or 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 x AQ AP X SP SO X SP x X S 0 $ 0 $ 0 Required information The following information applies to the questions displayed below. A manufactured product has the following information for June. Standard Quantity and cost Actual Results Direct materials 6 pounds SB per pound 48,500 pounds $8.10 per pound Direct labor 2 DLH $16 per DLH 15,700 hours $16.50 per hour Overhead 2 I. $12 per L. S. 198,000 Units manufactured 8,000 units Compute the (1) direct labor rate variance and (2) direct labor efficiency variance (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour answers to 2 decimal places.) AH = Actual Hours SH - Standard Hours AR - Actual Rate SR Standard Rato Actual Cost Standard Cont