13. Company produces a product that requires four standard hours per unit at a standard hourly rate of $15 per hour. If 800 units required 3,100 hours at an hourly rate of $15.50 per hour, what is the direct labor (a) rate variance, (b) efficiency variance, (c) total cost variance? Make sure you identify whether the variance is favorable or unfavorable. Prepare the journal entries for this standard cost system. 0.5 3100 1550 Favorable a. Direct Labor rate variance b. Direct labor time variance c. Direct Labor cost variance