Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materiala Direct labor Overhead Units manufactured Standard (5 lbs. $ per lb.) (3 hrs. . $16 per hr.) (3 hrs. $13 per hr.) Actual 36,000 lbs. $8.20 per lb. 21,000 hrs. @ $16.50 per hr. $283,000 7.100 Exercise 23-10 Direct labor variances LO P2 AH = Actual Hours SH - Standard 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 $ 0 $ 0 $