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 5 lbs. @ $7 per 1b. 2 hrs. @ $16 per hr. 2 hrs. @ $11 per hr. Actual 40,000 lbs. @ $7.2e per lb. 15,500 hrs. @ $16.60 per hr. $179, 180 7,900 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by 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 X AH AR AH SR SH SR X S 0 S 0 S 0 0