Required information [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 6 lbs. $B per lb. 3 hrs. $16 per hr. 3 hrs. $11 per hr. Actual 46,700 lbs. $8.20 per Ib. 22,800 hrs. $16.50 per hr. $259, 600 7.700 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 SQ = Standard Quantity AP - Actual Price SP - Standard Price AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP - Standard Price 1:21:06 Actual Cost Standard Cost 0 0 0 0 Help Alionu aliui pruuLL 1105 LE TUNUWIH HHHHOLIUI 101 JUIC. Direct materials Direet labor Overhead Units manufactured Standard 6 lbs. 58 per lb. 3 hrs. $16 per hr. 3 hrs. $11 per he. Actual 46,700 lbs. $8.20 per lb. 22,800 hrs. $16.50 per hr. $259,600 7.700 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 Standard Cost