[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 (7 lbs. @ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $13 per hr.) Actual 54,300 lbs. @ $9.20 per lb. 22,800 hrs. @ $16.40 per hr. $ 305, 300 7,700 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. Standard Cost Actual Cost X AH SR SH AR AH AR