Check my w Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.) Part 3 of 3 A manufactured product has the following information for June. points Direct materials Direct labor Overhead Unita manufactured standard 6 lbs. 2 $8 per lb. 3 hrs. $17 per hr. 3 hrs. $12 per hr. Actual 49,700 lbs. $8.10 per lb. 24,300 hrs. @ $17.60 per hr. $301,400 8.200 (2 00:23:29 eBook Exercise 21-10 Direct labor variances LO P3 References Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and 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 Standard Cost