A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour 69,000 $ 15 Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours $ 14 70,600 SH=Standard Hours AR Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable Actual Cost $ 0 Standard Cost