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 6 lbs. @ $7 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 50,400 lbs. @ $7.10 per lb. 16,300 hrs. @ $16.60 per hr. $204,800 8,300 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each 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 Standard Cost $ 0 S 0 S 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 6 lbs. 57 per lb. 2 hrs. $16 per le 2 hrs. 512 perhe Actual 50, 400 lbs. $7.10 per lb 16,300 hrs. $16.60 per hr. $204,800 8,300 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 Standard Cont $ 0 $ o $ 0 0 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 this manufactured Standard 6 lbs. 37 per Ih. 2 hrs. $16 per 2 hrs. $12 perhe Actual 50,400 lbs. $7.10 per lb. 16,300 hrs. $16.60 per hr 5204,00 3,100 Compute the direct materials price variance and the direct materials quantity Vartance (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unie" answers to 2 decimal places.) AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost $ 0 $ 0 5 0 0