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 Standard Actual Direct materials 6 lbs. @ 57 per lb. 48,400 lbs. @ 57.10 per lb. Direct labor 3 hrs. $17 per hr. 23,700 hrs. $17.60 per hr. Overhead 3 hrs. $11 per hr. $270,200 Units manufactured 8,000 Exercise 23-10 Direct labor variances LO P3 Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each variance 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 AH X AR AH 23,700 $17.60 * 5.417,120 SR $ 17.00 23.700 Standard Cost SH SR 24.000 x $ 17.00 $408.000 $ 402,900 $14.220 5 5.100 Direct labor efficiency variance Direct materiais price vanance Volume variance 5 14,220 Unfavorable 5,100 Favorable $ 9,920 unfavorable