[The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Direct materials (6 lbs. @ $8 per lb.) (2 hrs. @ $16 per Direct labor hr.) (2 hrs. @ $12 per Overhead hr.) Units manufactured Actual 48,500 a lbs. @ $8.10 per lb. hrs. @ $16.50 per 15,700 hr. $198,000 8,000 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each varianc favorable or unfavorable. 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 favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost 0 0