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. 258 per 1b. 2 hrs. 516 per hr. 2 hrs. $12 per hr. Actual 48, 5ee lbs. @ 58.10 per 1b. 15,700 hrs @ $16.50 per hr $198.000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each varlance by selecting for favorable, unfavorable, and 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 $ 0 $ 5 0 0 A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,788 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by electing for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity Q = Standard Quantity P = Actual Price P = Standard Price Actual Cost Standard Cost S 0 S 0 S 0 0