Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds $7 per pound Direct materials Direct labor Overhead Units manufactured 3 DLH $17 per DLH 3 DLH $12 per DLH Actual Results 37,600 pounds $7.20 per pound 22,000 hours $17.60 per hour $ 273,100 7,400 units Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost $ 0 $ 0 0 $ 0 Standard Cost