3. Below presented is the direct labor costs occurred in Loose Company for the year 2020: Actual Job Number Standards Hours Rate Rate Hours 554 A200 $40.00 530 $35.00 A300 360 $55.00 400 $57.00 |A400 230 $24.00 250 $27.00 Through analysis, Job A200 was a relatively new job that actually requires more hours of practice to perfect the job. Since it requires more skilled workers to figure out the job, the rate was eventually increased by Loose Company. Meanwhile, job A300 and job A400 have been done for years in the company, but are usually worked overtime. Since the production in 2020 was less than last year's, there wasn't any overtime pay as expected. Prepare the direct labor variance report to be given to the plant supervisor. The report should include job number, actual and standards hours, as well as rate, price variance, quantity variance, and explanation