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Required information [The following information applies to the questions displayed below]  A manufactured product has the following information for June

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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 Actual Direct materials (5 lbs. @ $9 per lb.) 39,500 lbs. @ $9.20 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,300 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $192,300 Units manufactured 7,800 
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. 
Actual Cost Standard Cost $ 0 $ 0 $ 0 0