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 (7 lbs. (3 hrs. (3 hrs. Standard 59 per lb.) $15 per hr.) 512 per hr.) Actual 58,600 lbs. 59.20 per lb. 24,700 hrs. $15.50 per hr. $384,3ee 8.360 Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost $ 0 $