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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. $9 per lb. 2 hrs. $16 per he 2 hrs. 512 per he. Actual 39,400 lbs. $9.10 per lb. 15.360 hrs. $26.50 per hr. $193,000 7,800 Compute the direct materials price variance and the direct materials quantity variance (indicate the effect of each variance by selecting for favorable, unfovorable, and 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 Compute the direct materials price variance and the direct materials quantity variance (Indicate the effect of each variance by 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 Compute the direct materials price variance and the direct materials quantity variance (Indicate the effect of each variance by 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 SQ 9 Required information AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP = Standard Price Actual Cost Standard Cost Favorable Unfavorable No variance 3 Required information Part 1 of 2 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP=Standard Price Standard Cost 166 Doints Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance Hint Prim References