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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

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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 (6 lbs. @ $7 per lb.) (3 hrs. $16 per hr.) (3 hrs. $13 per hr.) Actual 50, 800 lbs. e $7.10 per 1b. 25,000 hrs. e $16.40 per hr. $333,300 8,400 Exercise 23-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. 57 per lb.) (hr. 516 per hr. (3 hrs. $13 per hr.) Actual 50, 800 lbs. $2.10 per lb. 25,000 hrs. $16.40 per he. $333,300 8.400 Exercise 23-9 Direct materials variances LO P2 AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost + Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. $7 per lb.) (hrn. $16 per hr.) (es. $13 per he:) Actual 50,000 lbs. $7.10 per lb. 25,000 hrs. $16.40 per hr. $333,300 8,400 Exercise 23-10 Direct labor variances LO P2 AH-Actual Hours SH-Standard Hours AR Actual Rate SR Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cost

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