Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 7 lbs @ $7 per lb. 3 hrsl @ $16 per hr. 3 hrs. @ $12 per hr. Actual 58,600 lbs. @ $7.10 per lb. 24,700 hrs. @ $16.50 per hr. $384,300 8,300 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of 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 221 Homework 1 Saved Help Sav Required information AH = Actual Hours SH - Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost es $ 0 $ $ 0 0 Prev 2 of 6 Next ce to search G