Use the following information for the Exercises below. (Algo)

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A manufactured product has the following information for June.

	Standard Quantity and Cost	Actual Results
Direct materials	5 pounds @ $9 per pound	44,000	pounds @ $9.10 per pound
Direct labor	3 DLH @ $15 per DLH	25,900	hours @ $15.50 per hour
Overhead	3 DLH @ $12 per DLH	$ 319,800
Units manufactured		8,700	units

Exercise 23-9 (Algo) Direct materials variances LO P3

Compute the (1) direct materials price variance and (2) direct materials quantity variance.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.

AQ = Actual Quantity

SQ = Standard Quantity

AP = Actual Price

SP = Standard Price