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 (6 lbs. $B per lb.) (2 hrs. $16 per hr.) 12 hrs. $11 per hr.) 43,600 lbs. 14.000 hrs. $164,500 7,200 $8.20 per lb. $16.60 per hr. 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