! 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 Quantity and Cost 7 pounds @ $8 per pound 2 DLH $15 per DLH 2 DLH $12 per DLH Actual Results 51,700 pounds @ $8.20 per pound 14,200 hours @ $15.50 per hour $ 180,900 7,300 units 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 Standard Quantity SQ AP Actual Price SP=Standard Price Actual Cost $ 0 0 0 0 Standard Cost