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 Actual Direct materials 6 1bs. @ $8 per 1b. 52, 100 1bs. @ $8.20 per 1b. Direct labor 2 hrs. @ $16 per hr. 16, 909 hrs. @ $16.40 per hr. Overhead 2 hrs. @ $12 per hr. $212,780 Units manufactured 8, 690 Exercise 21-9 Direct materials varlances 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 SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost AQ X 4P AQ SP SQ X SP 52, 100 8.20 52, 100 X $ 8.00 52,000 $ 8.00 $ 427,220 $ 416,800 $ 416,000 $ 10,420 800 Direct materials price variance $ 10,420 Unfavorable Direct materials quantity variance 800 Unfavorable Total direct materials variance $ 11,220 Unfavorable