Blossom. Inc uses a standard cost system with the following labor standards for one unit of product: standard hours 0.20 and standard wage rate $12. During January, Blossom incurred 4,060 hours of direct labor and paid $49,735 in wages in production of 19,200 units. Calculate the direct labor rate and efficiency variances and indicate whether the variances are favorable or unfavorable. Direct labor rate variance $ Direct labor ethiciency variance 5