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. @ $8 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $12 per hr. Actual 48,400 lbs. @ $8.10 per lb. 23,700 hrs. @ $16.60 per hr. $294,900 8,000 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