(Answered) Question - a manufactured product has the following

Accounting

Question - A manufactured product has the following information for June.

	Standard	Actual
Direct materials	(5 lbs. @ $8 per lb.)	42,500 lbs. @ $8.10 per lb.
Direct labor	(3 hrs. @ $17 per hr.)	24,900 hrs. @ $17.40 per hr.
Overhead	(3 hrs. @ $11 per hr.)	$283,200
Units manufacturing		8,400

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

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