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Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results 5 pounds @ $8 per pound Direct materials Direct labor 3 DLH @ $17 per DLH 43,100 pounds @ $8.10 per pound 25,100 hours @ $17.50 per hour $ 338,300 8,500 units Overhead 3 DLH @ $13 per DLH Units manufactured Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or 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 AQ X SP X X X $ 8.00 X Direct materials price variance Direct materials quantity variance Total direct materials variance AP $ 8.10 $ 0 $ 0 0 $ 0 SQ $ SP 8.00