Required information Use the following information for the Exercises below. (Algo) Skip to question [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 6 pounds @ $8 per pound 51,000 pounds @ $8.10 per pound Direct labor 2 DLH @ $17 per DLH 16,500 hours @ $17.50 per hour Overhead 2 DLH @ $12 per DLH $ 207,600 Units manufactured 8,400 units Exercise 21-10 (Algo) Direct labor variances LO P3 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 place