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. standard actual direct materials (6 lbs. @ $8 per lb.) 48,500 lbs. @ $8.20 per lb. direct labor (3 hrs. @ $17 per hr.) 23,700 hrs. @ $17.40 per hr. overhead (3 hrs. @ $12 per hr.) $ 293,300 units manufactured 8,000 exercise 21-8 standard unit cost; total cost variance lo c2 (1) compute the standard cost per unit. (2) compute the total cost variance for june. indicate whether the cost variance is favorable or unfavorable.