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. Actual 55,900 1bs. B.20 per 1. 15,500 hrs. $16.50 per hr. Standard Direct materials Direct labor Overhead Units nanufactured 7 lbs. $8 per ib. (2 hrs. e $16 per hr.) (2 hrs. $12 per hr.) 195,000 7,900 Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favo unfavorable AH- Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate