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. Standard 6 lbs. @ $9 per Actual lbs. @ $9.10 per Direct materials 47,900 lb. Direct labor 16.600 hrs. @ $16.60 per 15,500 hr. lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $13 per hr.) Overhead $211,700 Units manufactured 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 favorable or unfavorable. 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. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost S 0 $ 0 $ 0