Required information The following information applies to the questions displayed below.] A manufactured product has the following information for June Actual 49,600 lbs. $9.20 per lb. Standard Direct materials Direct labor Overhead Units manufactured (6 lbs. $9 per lb.) (3 hrs. 16 per hr.)24,200 hrs. (3 hrs.e $13 per hr 326,100 $16.60 per hr. 8,200 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable AQ Actual Quantity SO Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost