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A manufactured product has the following information for June. Standard Actua1 Direct materials (6 lbs. $7 per lb.) (2 hrs. e $15 per hr.16,200 hrs. (2 hrs. e $13 per hr.) $219,200 49,600 1bs. $7.10 per lb s15.50 per hr. Direct labor Overhead Units manufactured 8,200 AQ Actual Quantity SO 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 A manufactured product has the following information for June. Standard Actual (6 lbs. $7 per lb.) (2 hrs. (2 hrs. $13 per hr.) $219,200 Direct materials Direct labor Overhead Units manufactured 49,600 1bs $15 per hr. 16,200 hrs. 15.50 per hr $7.10 per b. 8,200 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. Actual Cost Standard Cost