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 (7 lbs. @ $7 per lb.) 62,900 lbs. @ $7.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 26,500 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $13 per hr.) $ 352,600 Units manufactured 8,900 Exercise 23-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit.

Exercise 23-9 Direct materials variances LO P2

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.