Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit' answers to 2 decimal places. AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. AH=ActualHoursSH=StandardHoursAR=ActualRateSR=StandardRate