Explain the Required 2 portion please and thank you!

Required information 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. Direct materials Direct labor Overhead Units manufactured Standard 7 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $13 per hr. Actual 55,100 lbs. @ $8.20 per lb. 15,300 hrs. @ $16.40 per hr. $208,000 7,800 Exercise 21-8 Standard unit cost; total cost variance LO P2 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead Total 26 114 Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance Unfavorable