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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. ] A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. 5 $8 per 11).) 44,000 lbs. E $5.10 per 1b. Direct labor (3 hrs. a $16 per hr.) 25,900 hrs. E $16.50 per hr. Overhead (3 hrs. 3 $12 per hr.) $318,900 Units manufactured 8,700 Exercise 23-10 Direct labor variances LO P2 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efciency variance. Indicate whether each variance is favorable or unfavorable. 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 AH SHAH =Actua| 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. 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 AH SHAH = 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 AR SRAH = 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 . . .. AH SHAH = 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 AR SRAH =Actua| 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. Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance Total direct labor variance 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. Total direct materials variance Standard Cost Total variable overhead cost variance Variable overhead efficiency variance Variable overhead spending variance Volume variance