Question 11 (7 points) The following standards have been established for product AT: Direct materials 2.3 lbs per unit at $6.00 per lb Direct labour 1.5 hours per unit at $14.00 per hour Last month the company produced 1,500 units. They used 3,600 lbs of material at a cost of $21,060 and 2,300 direct labour hours were worked at a cost of $31,050. Required: Calculate the direct labour rate and efficiency variances Show your work and label your variances (name of variance and favourable or unfavourable). (7 marks)