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. 267 per lb.) (2 hrs. 616 per hr.) (2 hrs. @ 612 per hr.) Actual 49, 700 lbs. 67.10 per lb. 16,000 hrs. 8416.50 per hr. 4203, 600 B, 200 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 & Answer is complete but not entirely correct. Actual Cost AH X AH > X > $ AR IS 16.50 SR IS 16.00 16,000 X 16,000 Standard Cost SH SR $ 24,850 $ X 16.00 $ 397,600 S 264.000 IS 256,000 $8,000 $ 141,600 Direct labor rate variance Direct labor efficiency variance Total direct labor variance $ 8,000 Unfavorable 141,600 Favorable $ 24,850 X Unfavorable OOO