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Use the following information for the Exercises below.

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[The following information applies to the questions displayed below.] A manufactured product has the following information for June.

	Standard	Actual
Direct materials	6 lbs. @ $8 per lb.		53,300	lbs. @ $8.20 per lb.
Direct labor	2 hrs. @ $16 per hr.		17,300	hrs. @ $16.50 per hr.
Overhead	2 hrs. @ $11 per hr.	$	199,800
Units manufactured			8,800

Exercise 21-9 Direct materials variances LO P3

Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.)

Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Actual Cost Standard Cost