Question 4 The following standard direct materials and direct labor costs per unit for a product have been established: Direct Materials (6 lbs. @ $12 per lb.) Direct Labor (2 hrs. @ $18 per hour) During June the company incurred the following actual costs to produce 10,500 units. Direct Materials (65,100 lbs. @ $11.75 per lb.) Direct Labor (19,950 hrs. @ $19.00 per hr.) Required: a. Calculate the direct materials price variance and indicate if the variance is favorable or unfavorable. b. Calculate the direct materials quantity variance and indicate if the variance is favorable or unfavorable. 4 pts