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 per lb. Standard Actual 7 lbs. @ $7 per lbs. @ $7.10 lb. 58,600 2 hrs. @ $16 per hrs. @ $16.40 hr. 16,300 per hr. 2 hrs. $12 per hr. $205,300 8,300 Overhead Units manufactured Exercise 23-8 Standard unit cost; total cost variance LO P2 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. 1 Required Required 2 Compute the standard cost per unit. $ 49 Direct materials Direct labor Overhead Total 32 24 105 $ Exercise 23-9 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.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost 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.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost