! Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Standard Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. Overhead 2 hrs. @ $12 per hr. $198,000 Units manufactured 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AH Actual Cost X X Standard Cost AR AH X SR SH X SR $ 0 $ 0 x $ 0 x