Bubba Gump's Meals prepares meals for daytime fishing excursion boats operating in the Gulf of Mexico. One of Bubba Gump's most popular meals consists of boiled shrimp with fried potatoes and okra. Last week, Bubba's prepared 6,500 of these meals using 3,200 direct labor-hours. Bubba paid direct labor workers a total of $36,800 for this work, or $11.50 per hour. The standard cost system at Bubba's indicates that the standard cost for this meal is based on 0.50 direct labor-hours at a cost of $11.00 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6,500 meals? 2. What is the standard labor cost allowed (SHSR) to prepare 6,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values. Do no round intermediate calculations.) 1. Standard labor hours allowed 2. 3. Standard labor cost allowed Labor spending variance 4. Labor rate variance Labor efficiency variance