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. @ $7 per lb.) (3 hrs. @ $17 per hr.) (3 hrs. @ $13 per hr.) Actual 49,000 lbs. @ $7.10 per lb. 24,100 hrs. @ $17.40 per hr. $321,300 8,180 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 Standard Cnet ? con contexternal browser=0&launchurl=https%253A%252F%252Fnewconnect mheducati Saved Help Save & Exit Submit 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 +