Required information [The following information applies to the questions displayed below. A manufactured product has the following information for June. Direct materials 1 Actual lbs. @ $7.20 per 9 54,400 lb. Standard (7 lbs. @ $7 per lb.) (3 hrs. @ $15 per hr.) (3 hrs. @ $12 per hr.) Direct labor Overhead Units manufactured 32 saa hrs. @ $15.50 per 22,8001 hr. $283,300 7,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable Total cost variance Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual 54,400 lbs. @ $7.20 per Direct materials Direct labor Standard (7 lbs. @ $7 per 1b.) (3 hrs. @ $15 per hr.) (3 hrs. @ $12 per hr.) 22,800 hrs. @ $15.50 per Overhead Units manufactured $283,300 7,700 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual 54.490 lbs. @ $7.20 per Direct materials 54,400 lb. Direct labor Standard (7 lbs. @ $7 per 1b.) (3 hrs. @ $15 per hr.) (3 hrs. @ $12 per hr.) Overhead Units manufactured 22,800 9 hrs. @ $15.50 per hr. $283,300 7,700 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. EAH = Actual Hours ESH = Standard Hours E AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost