Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A manufactured product has the following information for June Direct materials 6 lbs. Direct labor 3 hrs. Standard $8 per lb. $15 per hr. Overhead 3 hrs. @$11 per hr. Units manufactured Actual 52,100 lbs. @ $8.10 per lb. 25,500 hrs. @ $15.40 per hr. $289,700 8,600 Exercise 21-9 Direct materials variances LO P3 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 es SQ Standard Quantity AP Actual Price SP Standard Price AQ Actual Cost x x AP $ 0 $ 0 0 $ 0 Standard Cost