Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Standard (7 lbs. e $7 per lb.) (2 hrs. e $16 per hr.) (2 hrs. e S$12 per hr.) Actual Direct materials Direct labor Overhead 51, 600 lbs. e S7.10 per 1b. 14, 200 hrs.e S16.50 per hr. S180, 400 7, 300 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 Required Information (The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual Standard e $7.10 per lb. e $16.50 per hr. 51, 600 lbs. 14, 200 hrs. $180, 400 7,300 (7 lbs. e $7 per lb.) (2 hrs. e $16 per hr.) (2 hrs. e $12 per hr.) Direct materials Direct labor Overhead Units manufactured Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favora unfavorable. AQ Actual Quantity SQ - Standard Quantity AP- Actual Price SP = Standard Price Actual Cost Standard Cost Required information (The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual (7 lbs. e $7 per lb.) (2 hrs. e $16 per hr.) (2 hrs. e $12 per hr.) Direct materials Direct labor 51, 600 lbs. e S7.10 per lb. 14, 200 hrs. e $16.50 per hr. $180, 400 7, 300 Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH- Actual Hours SH- Standard Hours AR- Actual Rate SR- Standard Rate Actual Cost Standard Cost %$4