Please help me with this accounting question

! 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.) (3 hrs. @ $17 per hr.) (3 hrs. @ $12 per hr.) Actual 57, 200 lbs. @ $8.20 per lb. 24,000 hrs. @ $17.60 per hr. $296,600 8,100 Exercise 23-9 Direct materials variances LO P2 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