Help Save E 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 (5 lbs. $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. $12 per hr. > Actual 44.500 lbs. $8.20 per lb. 26.000 hrs. $16.40 per hr. $322,000 8.800 AH = Actual Hours SH - Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cont AH - Actual Hours SH - Standard Hours AR = Actual Rate SR - Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cost 5 0 $ 0 $ 0 0