A manufactured product has the following information for June. Standard $7 per lb. $17 per hr. $12 per hr. Direct materials Direct labor Overhead Units manufactured AH-Actual Hours SH=Standard Hours AR Actual Rate SR Standard Rate 5 lbs. 2 hrs. 2 hrs. Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Actual 43,600 lbs. @ $7.10 per 1b. 16,900 hrs. $17.50 per hr. $213,000 8,600 Standard Cost