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[ The following information applies to the questions displayed below. ] A manufactured product has the following information for June. Standard Quantity and Cost Actual

[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Standard Quantity and Cost Actual Results
Direct materials 5 pounds @ $7 per pound 43,400 pounds @ $7.10 per pound
Direct labor 3 DLH @ $16 per DLH 25,500 hours @ $16.40 per hour
Overhead 3 DLH @ $12 per DLH $ 316,600
Units manufactured 8,600 units
Compute the (1) direct labor rate variance and (2) direct labor efficiency variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.

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