Consider the following information: Actual hours used 15,000 Standard hours allowed 15,500 Actual rate $14.50 per hour $15.00 per hour Standard rate Which of the following are the direct-labor rate variance and the direct-labor efficiency variance, respectively? $7,500 favorable and $7,500 unfavorable $7,750 unfavorable and $7,500 favorable $7,750 favorable and $7,250 unfavorable $7,500 favorable and $7,250 unfavorable $7,500 favorable and $7,500 favorable