Ch 21 Ex 1 i 6 Part 3 of 3 5 points Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $7 per pound 3 DLH @ $16 per DLH 3 DLH @ $11 per DLH eBook Hint Saved Actual Results 58,000 pounds @ $7.20 per pound 24,400 hours @ $16.60 per hour 8,200 units $ 277,200 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 Print AR = Actual Rate SR = Standard Rate References Actual Cost AH AR X $ 16.60 $ 0 AH SR X $ 16.00 $ 0 0 $ 0 Standard Cost SH SR X $ 16.00