#8. Need help completing empty box at the bottom

Direct materials (1,620,000 pounds @ $4 per pound) Direct labor (270,000 hours @ $14 per hour) Overhead (270,000 hours @ $18 per hour) Standard (budgeted) cost $ 6,480,000 3,780,000 4,860,000 $ 15,120,000 Actual costs incurred during the current quarter follow. Direct materials (1,615,000 pounds @ $4.10 per pound) Direct labor (265,000 hours @ $13.75 per hour) Fixed overhead Variable overhead Actual cost $ 6,621,500 3,643,750 2,350,000 2,200,000 $ 14,815,250 Problem 8-4A (Static) Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Req 1 Req 2 Controllable Variance Req 3 Volume Variance Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfaw to two decimal places.) Actual Cost Standard C Actual hours Actual rate Actual hours Standard rate Standard hours 265,000 X S 13.75 265,000 $ 14.00 270,000 $ 3,643,750 $ 3,710,000 $ 3,781 $ 66,250 $70,000 Direct labor rate variance $ 66,250 Favorable Direct labor efficiency variance 70,000 Favorable Direct labor variance Favorable