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 (5 lbs. $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 40,400 lbs. $7.10 per lb. 15,800 hrs. $16.60 per hr. $198.000 8,000 (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