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 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH Units manufactured Actual Results 44,400 pounds @ $9.20 per pound 21,500 hours @ $17.40 per hour 7,300 units $ 247,600 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 AQ Actual Cost X AP AQ X SP X $ 0 $ 0 0 $ 0 Standard Cost SQ X SP