! Required information [The following information applies to the questions displayed below. A manufactured product has the following information for June. Standard (6 lbs. $8 per lb.) (3 hrs $15 per hr.) (3 hrs. $13 per hr.) Actual 44,900 lbs. @ $8.20 per lb 21,900 hrs. $15.50 per hr $294,100 Direct materials Direct labor Overhead Units manufactured 7,400 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 Actual Cost Standard Cost