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. Standard Direct materials Direct labor Overhead (7 lbs. $9 per lb.) (2 hrs. $16 per hr.) (2 hrs. $11 per hr.) Units manufactured Actual 55,700 lbs. @ $9.10 per lb. 15,500 hrs. @$16.60 per hr. $179,500 7,900 Exercise 23-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials $ 63 Direct labor 32 Overhead Total 22 $ 117 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance Unfavorable