Required Information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. art 2 of 3 Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs $12 per hr. Actual 48,500 lbs. $8.1e per lb. 15,7ee hrs. $16.50 per hr. $198. Be Be eBoc Hint Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) Point ference AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Standard Cost Actual Cost ariance Analysis Ass 10 A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. $12 per hr. at 3 of 3 Actual 48,50e lbs. $8.18 per lb. 15,70 hrs. $16.50 per hr. $198.89 8.000 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each variance 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 Perences Standard Cost Actual Cost