7 QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. 14.32 points 01:51:13 Actual hours of direct labor used (AH) Actual rate of direct labor per hour (AR) Standard rate of direct labor per hour (SR) Standard hours of direct labor for units produced (SH) 70,000 $ 14 $ 12 71,100 eBook AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate dot Hint Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost Print References