Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) A manufactured product has the following Information for June. Standard Quantity and cost Actual Results Direct materials 6 pounds @ $9 per pound 48,400 pounds @ $9.10 per pound Direct labor 2 DLH @ $15 per DLH 15,788 hours @ $15.40 per hour Overhead 2 DLH @ $12 per DLH $ 197, 400 Units manufactured 8, units Exercise 23-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost S 0 s 0 s 0 ola