A manufactured product has the following information for June. Standard (7 lbs. e $7 per lb.) (3 hrs. $16 per hr.) (3 hrs. e $13 per hr.) Actual Direct materials Direct labor Overhead Units manufactured 60,700 lbs. $7.10 per lb. 25,400 hrs. $16.50 per hr. $341,000 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