Required information The following information applies to the questions displayed below] A manufactured product has the following information for June Standard (7 lbs. $7 per 1b.) (3 hrs.@ $15 per hr.) (3 hrs. $12 per hr.) Actual 58,600 lbs. $7.10 per 1b. 24,600 hrs. @$15.5e per hr. $ 304,100 8,300 Direct materials Direct labor Overhead Units manufactured (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 Total cost variance