Use the following information for the Exercises below. (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. @ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $13 per hr.) Actual 52,700 lbs. @ $9.20 per lb. 25,800 hrs. @ $16.50 per hr. $ 344,900 8,700 Exercise 23-10 Direct labor variances LO P2 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. Actual Cost Standard Cost $ 0 $ 0 $ 0 0