A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and cost 7 pounds $8 per pound 2 DLH $17 per DLH 2 DLH @ $13 per DLH Actual Results 60,800 pounds @ $8.10 per pound 17,000 hours @ $17.50 per hour $ 230,000 8,600 units Exercise 8-10 (Algo) Direct labor variances LO P3 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.) AH = Actual Hours SH - Standard Hours AR - Actual Rate SR = Standard Rate Answer is not complete. Actual Cost AH Standard Cost X AR AH SR SH SR 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.) AH - Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rate Answer is not complete. AH Actual Cost X 17.000 X SH AR $17.50 AH 17.000 SR $ 17.00 Standard Cost x SR X $ 17.00 X x $ 297.500 289.000 $ 8.500 $ 0 Direct labor rate variance Direct labor efficiency variance Total direct labor variance $ 8,500 0 Unfavorable Favorable Unfavorable OOO 0