Required information The following information applies to the questions displayed below) A manufactured product has the following information for June Direct materials Olrect labor Overhead Undits wanufactured Standard 6 lbs. 59 per lb. 2 hrs. 515 per hr. 2 hrs. $12 per hr Actual 49,100 lbs. 39.20 per 1b. 15,800 hrs. $16.60 per he. $200,400 8,100 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 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 Cont Standard Cost