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[The following information applies to the questions displayed below.] A manufactured product has the following...

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Accounting

[The following information applies to the questions displayed below.] A manufactured product has the following information for June.

Standard Quantity and Cost Actual Results
Direct materials 7 pounds @ $7 per pound 52,200 pounds @ $7.10 per pound
Direct labor 2 DLH @ $17 per DLH 14,600 hours @ $17.50 per hour
Overhead 2 DLH @ $12 per DLH $ 183,200
Units manufactured 7,400 units

Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate

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