Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June Standard Actual Direct materials 6 lbs. 57 per lb. 53,900 lbs. @ $7.20 per tb. Direct labor 2 hrs. $17 per hr 17,500 hrs. a $17.50 per hr Overhead 2 hrs. @ $11 per hr. $291,680 Units manufactured 8,980 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and 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 Standard Cost AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP - Standard Price Actual Cost Standard Cost 0 $ 0 $ 0 0