Required information Skip to question [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $8 per pound 48,500 pounds @ $8.10 per pound Direct labor 2 DLH @ $16 per DLH 15,700 hours @ $16.50 per hour Overhead 2 DLH @ $12 per DLH $ 198,000 Units manufactured 8,000 units Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate