A company reports the following information for its direct labor. hetunl hours of direct labot used Aetanl rate of direct labor per hour Standard rate of direct labor per bour standard hours of airect labor for units produced AH = Actusl Hours SH = Standard Hours AR= Actual Rate SR= Standard Rate 58,000 \$ 15 814 59,200 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. A company reports the following information for its direct labor. hetunl hours of direct labot used Aetanl rate of direct labor per hour Standard rate of direct labor per bour standard hours of airect labor for units produced AH = Actusl Hours SH = Standard Hours AR= Actual Rate SR= Standard Rate 58,000 \$ 15 814 59,200 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable