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 5 pounds @$7 per pound 3 DLH $16 per DLH 3 DLH @ $11 per DLH Actual Results 42,600 pounds @ $7.20 per pound 24,800 hours @ $16.60 per hour 8,400 units $283,900 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 SQ Standard Quantity AP Actual Price SP=Standard Price 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 SQ Standard Quantity AP Actual Price SP Standard Price Actual Cost AQ x AP AQ x SP X X Direct materials price variance Direct materials quantity variance Total direct materials variance $ 0 $ 0 Unfavorable 0 Unfavorable Unfavorable + $ 0 Standard Cost SQ SP x x