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 materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $9 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 49,200 lbs. @ $9.10 per lb. 15,900 hrs. @ $15.40 per hr. $200,900 8,100 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