A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 5 pounds @ $8 per pound 3 DLH @ $15 per DLH 3 DLH @ $12 per DLH Actual Results 35,500 pounds @ $8.20 per pound 20,700 hours @ $15.40 per hour $ 258,800 7,000 units Exercise 23-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost $ 0 0 $ 0 Standard Cost