3 The director of cost mnanagement for the Bangor! nstrument Corporation compares each month's actual results with a monthly plan. The standard direct-labor rates for the year just ended and the standard hours allowed, given the actual output in April, are shown in the following schedule Standard Direct-Labor Standard Direct-Labor Hours Rate per Hour Allowed, Given April Output $16.00 500 A new union contract negotiated in March resulted in actual wage rates that differed from the standard rates. The actual direct-labor hours worked and the actual direct-labor rates per hour experienced for the month of April were as follows: Actual Direct-Labor Actual Direct-Labor Rate per Hour Hours $17.40 550 Required: Compute the direct labor rate and effiency variances for April