c The management of Cotton Bear Clothing Company decided to investigate the standard-setting process in the organisation. They obtained the following information: Cost information Boys' trousers Girls' skirts Standard cost information: Standard labour rate per hour $18.50 $18.50 Standard labour hours per unit 2.50 hours 1.90 hours Actual cost information: Actual labour rate per hour $17.50 $22.50 Actual labour hours used per unit 2.60 hours 1.70 hours ii Calculate the direct labour rate and efficiency variances for making the boys' trousers and girls' skirts. Discuss your findings and any corrective actions that should be taken by the manager of the company. The company had set currently attainable standards