Brier Exercise 24-03 Labor data for making one gallon of finished product in Blossom Company are as follows. (1) Price-hourly wage rate $13.60, payroll taxes $0.60, and fringe benefits $1.30. (2) Quantity-actual production time 1.30 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct labor rate per hour. $ (b) Standard direct labor hours per gallon. hours Standard labor cost per gallon. $ Click if you would like to Show Work for this question: Open Show Work Question 11 In the direct labor variance matrix, there are three factors: (1) Actual hours x Actual rate, (2) Actual hours x Standard rate, and (3) Standard hours x Standard rate Using the numbers, indicate the formulas for each of the direct labor variances. Total labor variance Labor price variance Labor quantity variance