Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 48,500 lbs. @ $8.19 per lb. Direct labor 2 hrs. @ $16 per hr. 15,700 hrs. @ $16.50 per hr. Overhead 2 hrs. @ $12 per hr. $198,eee Units manufactured 8,888 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance selecting for favorable, unfavorable, and no varlance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost