Required information The following information applies to the questions displayed belowj A manufactured product has the following information for June Standard Actual Direct materials Direct labor Overhead Units nanufactured (7 lbs. $8 per lb.) (3 hrs. $15 per hr.) (3 hrs. $12 per hr.) 55, 100 lbs. 23, 000 hrs. $8.10 per lb. $15. 60 per hr $287, 200 7, 800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable AQ Actual Quantity SQ Standard Quantity AP-Actual Price SP Standard Price Actual Cost Standard Cost AP SP AQ AQ SP SQ O Unfavorable 0(Unfavorable avorable