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 materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $7 per pound 3 DLH @ $16 per DLH 3 DLH @ $13 per DLH Actual Results 52,200 pounds @ $7.20 per pound 22,000 hours @ $16.50 per hour $ 294,600 7,400 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 SQ=Standard Quantity AP Actual Price SP=Standard Price AQ Actual Cost X X AP AQ X SP SQ X $ 0 $ 0 0 $ 0 Standard Cost x X SP 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 materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $7 per pound 3 DLH @ $16 per DLH 3 DLH @ $13 per DLH Actual Results 52,200 pounds @ $7.20 per pound 22,000 hours @ $16.50 per hour $ 294,600 7,400 units 13 Exercise 21-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH= Standard Hours ed AR= Actual Rate SR= Standard Rate AH Actual Cost X X AR AH 0 0 X SR 45 SH Standard Cost X x HE SR