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# A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @ \$7 per lb.) 45,400 lbs. @ \$7.20 per lb....

A manufactured product has the following information for June.

Standard Actual Direct materials (5 lbs. @ \$7 per lb.)   45,400 lbs. @ \$7.20 per lb. Direct labor (3 hrs. @ \$17 per hr.)   26,700 hrs. @ \$17.50 per hr. Overhead (3 hrs. @ \$12 per hr.) \$ 329,700   Units manufactured     9,000

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

AQ = Actual Quantity

SQ = Standard Quantity

AP = Actual Price

SP = Standard Price

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