Required information The following information applies to the questions displayed below. A manufactured product has the following information for June. Standard Direct materials (7 lbs.$8 per Direct labor Overhead Units manufactured lb.) (2 hrs. $16 per hr.) (2 hrs.$12 per $186,400 hr.) Actual 53,eee lbs. $8.20 per 14,600 hrs. e 16.6e per 7,500 (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