Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Standard Quantity and Cost Direct labor 7 pounds 2 DLH $9 per pound $16 per DLH Overhead 2 DLH $12 per DLH Units manufactured Actual Results 60,000 pounds 16,700 hours $9.10 per pound $16.50 per hour $ 210,600 8,500 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance b 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