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 (5 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $13 per hr.) Actual 36,400 lbs. @ $8.10 per lb. 14,000 hrs. @ $15.50 per hr. $ 192,400 7,200 AQ = Actual Quantity 5Q = Standard Quantity AP = Actual Price 5P = Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost $ 0 $ $ $ 0 0