Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct labor Standard Quantity and Cost 5 pounds $8 per pound $17 per DLH Direct materials 2 DLH Overhead 2 DLH $12 per DLH Units manufactured Actual Results 40,500 pounds $8.20 per pound 15,800 hours @ $17.50 per hour $ 197,600 8,000 units Exercise 21-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ Actual Quantity Standard Quantity SQ AP Actual Price SP Standard Price Actual Cost $ 0 $ 0 0 $ 0 Standard Cost