[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.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 42,500 lbs. @ $7.10 per lb. 16,400 hrs. @ $15.40 per hr. $208, 200 8,400 Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. $ 40 Direct materials Direct labor Overhead Total $ 94 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance