! Required Information Use the following Information for the Exercises below. (Algo) 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 Quantity and cost 7 pounds 58 per pound 3 D @ $16 per DLH 3 DLH 512 per DL Actual Results 59,200 pounds 58.2e per pound 24, Bee hours $16.50 per hour $ 309, 360 8,489 units Exercise 8-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate vartance and (2) direct labor efficiency variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance. 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