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 Overhead Units manufactured Standard (7 lbs. @ $8 per lb.) (3 hrs. @ $17 per hr.) (3 hrs. @ $12 per hr.) Actual 60,000 lbs. @ $8.10 per lb. 25, 200 hrs. @ $17.50 per hr. $312,200 8,500 Exercise 23-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total $ 0 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance 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 Overhead Units manufactured Standard (7 lbs. @ $8 per lb.) (3 hrs. @ $17 per hr.) (3 hrs. @ $12 per hr.) Actual 60,000 lbs. @ $8.10 per lb. 25,200 hrs. @ $17.50 per hr. $312,200 8,500 Exercise 23-9 Direct materials variances LO P2 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost $ 0 $ 0 $ 0 0 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 Overhead Units manufactured Standard (7 lbs. @ $8 per lb.) (3 hrs. @ $17 per hr.) (3 hrs. @ $12 per hr.) Actual 60,000 lbs. @ $8.10 per lb. 25, 200 hrs. @ $17.50 per hr. $312,200 8,500 Exercise 23-10 Direct labor variances LO P2 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost $ 0 $ 0 $ 0 0