ssignment (20 points) 11 Saved A manufactured product has the following information for June. Standard Actual 2 of 3 Direct materials Direct labor 5 lbs. $7 per lb. 3 hrs. $17 per hr. Overhead 3 hrs. $12 per hr. Units manufactured 42,100 lbs. $7.10 per 1b. 24,600 hrs. $17.50 per hr. $303,800 8,300 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 ook nt SQ Standard Quantity nt AP Actual Price SP Standard Price ences Actual Cost $ 0 9 $ 0 $ 0 Standard Cost 9 < Prev 11 12 of 14 Next > Help A manufactured product has the following information for June. Actual Direct materials 5 lbs. Standard, $7 per lb. Direct labor 3 hrs. $17 per hr. 42,100 lbs. 24,600 hrs. Overhead 3 hrs. $12 per hr. $303,800 Units manufactured 8,300 $7.10 per lb. $17.50 per hr. 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 $ 0 $ 0 0 $ 0 Standard Cost +