Required information Use the following information for the Exercises below. (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. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $11 per hr. Actual 44,400 lbs. @ $8.20 per lb. 17,400 hrs. @ $16.50 per hr. $198,800 8,800 Exercise 21-8 Standard unit cost; total cost variance LO P2 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead Total Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Standard Actual Direct materials 5 lbs. @ $8 per lb. 44,400 lbs. @ $8.20 per lb. Direct labor 2 hrs. $16 per hr. 17,400 hrs. @ $16.50 per hr. Overhead 2 hrs. @ $11 per hr. $198,800 Units manufactured 8,800 Exercise 21-8 Standard unit cost; total cost variance LO P2 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance