The following information describes a company's direct labor usage in a recent period. Notual direct labor hours used (1) Standard direct labor rate per hour (SR) Standard direct labor hours for units produced (51) 66,000 15 $ 14 67,300 AH = Actual Hours SH = Standard Hours AR= Actual Rate SR - Standard Rate Compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable or no variance. Standard Cost