(Answered) Direct labor variancesa manufactured product has the

Accounting

Direct labor variances

A manufactured product has the following information for June.

	Standard	Actual
Direct materials	(7 lbs. @ $8 per lb.)		58,700	lbs. @ $8.10 per lb.
Direct labor	(3 hrs. @ $16 per hr.)		24,600	hrs. @ $16.40 per hr.
Overhead	(3 hrs. @ $13 per hr.)	$	329,300
Units manufactured			8,300

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.

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