A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $11 per hr.) Actual 52,000 lbs. @ $8.20 per lb. 17,000 hrs. @ $16.40 per hr. $195,900 8,600 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost $ 0 $ 01