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A manufactured product has the following information for June.

$\backslash$table$[[,$Standard Quantity and Cost,Actual Results$],[$Direct materials,$6$ pounds @ $$7$ per pound,$50,300$ pounds @ $$7\mathrm{.}20$ per pound$],[$Direct labor,$2$ DLH @ $$17$ per DLH$,16,300$ hours @ $$17,50$ per hour$],[$Overhead$,2$ DLH @ $$12$ per DLH$,$$$204,300$ units$],[$Units manufactured,,$8,300$ und$]]$

Exercise $21-9($Algo$)$ Direct materials variances LO P$3$

Compute the

$(1)$ direct materials price variance and

$(2)$ direct materials quantity variance.

Note: 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