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. @$8 per lb.) (2 hrs. @$16 per hr.) (2 hrs. @$12 per hr.). Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @$16.50 per hr. $198,000 8,000 Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total $ 0 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate Actual Cost $ 0 FA 0 0 $ 0 Standard Cost