[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 Quantity and Cost 6 pounds @ $9 per pound 2 DLH @ $16 per DLH 2 DLH @ $12 per DLH $ 207,800 Actual Results 50,900 pounds @ $9.20 per pound 16,400 hours @ $16.50 per hour 8,400 units Exercise 23-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH Standard Hours AR Actual Rate SR = Standard Rate Actual Cost Standard Cost