7 A company reports the following information for its direct labor. Actual hours of direct labor used 11.11 points Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours SH Standard Hours eBook AR Actual Rate 64,000 $ 15 $ 13 65,500 * Hint SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Print References Actual Cost Standard Cost