! 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 7 lbs. @ $8 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 51,000 lbs. @ $8.20 per lb. 21,400 hrs. @ $16.40 per hr. $244,400 7,200 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance Unfavorable