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 (2 lbs. ( . ( s. Standard 58 per 1.) 516 perh.) 512 perh.) 51.50 21.50 $268.000 ta $8.1 per 1 $16.50 sehr AH Actual Hours SHStandard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cost