Required Information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Actual 6 lbs. @ $7 per lb. 54,400 en lbs. @ $7.20 per * lb. 3 hrs. @ $16 per hr. 26,800 6 seg hrs. @ $16.50 per 3 hrs. @ $11 per hr. $303,900 9,000 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 1 x 54,400 x | $ 391,680 AP $ 7.20 AQT 54,400 X x $ 380,800 SP 7.00 Standard Cost SQL x X SP 7.00 $ $ $ 10.880 Direct materials price variance Direct materials quantity variance Total direct materials variance $ 10,880 Unfavorable Unfavorable Unfavorable Required Information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Actual 400 lbs. @ $7.20 per 6 lbs. @ $7 per lb. 54,400 3 hrs. @ $16 per hr. 26,800 hrs. @ $16.50 per hr. 3 hrs. @ $11 per hr. $303,900 9,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost AH AH SR AR 16.50 SR 16.00 26,800 $ 26.800 X X $ 428,800 $ $ X $ 442,200 16.00 $ 13.400 Direct labor rate variance Direct labor efficiency variance $ 13,400 Unfavorable 0 Favorable Unfavorable Total direct labor variance