1. Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual price per gallon $11.75 Actual gallons of material used 5,000 Actual hourly labor rate $17.00 Actual hours of production 24,300 Standard price per gallon $12.00 Standard gallons per completed unit 1/2 Standard hourly labor rate $12.00 Standard time per completed unit 3 hrs. Units completed during the period 9,000 Required: Compute direct labor RATE variance Compute direct labor TIME variance Compute TOTAL direct labor variance