Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Standard (7 lbs. @$9 per 1b.) (2 hrs. $16 per hr.). Overhead (2 hrs. $13 per hr.) Units manufactured Actual 55,900 lbs. @ $9.20 per 1b. 15,600 hrs. @$16.50 per hr. $211,600 7,988 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total $ (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance