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 (5 lbs. @ $7 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $13 per hr.) Actual 41,100 lbs. @ $7.20 per lb. 23,900 hrs. @ $16.50 per hr. $321,300 8,100 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance Unfavorable