23 Assignment Required information The following information applies to the questions displayed below.) w A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. $9 per lb.) (2 hrs. 516 per hr.) (2 hrs. @ 513 per hr.) Actual 41, 400 lbs. $9.10 per lb. 16,000 hrs. @ $16.50 per hr. $218,300 8, 200 10 19 18 u AH - Actual Hours SH - Standard Hours AR - Actual Rate SR Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost