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 Direct labor Overhead Units manufactured Standard 5 lbs. @ $9 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $12 per hr. Actual 37,400 lbs. @ $9.10 per lb. 21,900 hrs. @ $16.50 per hr. $272,300 7,400 Exercise 08-8 Standard unit cost; total cost variance LO P2 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance