canvas.svsu.edu Question 2 0.5 pts The Collins Corporation uses standard costing and has established the following direct material and direct labor standards for each unit of the single products it makes: Direct materials: 5 gallons at $8.09 per gallon Direct labor: 1.2 hour at $15.96 per hour During July, the company made 5.968 units of product and incurred the following costs: Direct materials purchased: 26,233 gallons at $8.05 per gallon Direct materials used: 25,282 gallons Direct labor used: 5,697 hours at $15.42 per hour Calculate the labor efficiency variance. Round your answer to two decimal places. Favorable variances should be positive, unfavorable should be entered as a negative. D Question 3 0.5 pts Goldman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hours per glass, at a cost of $17 per hour. The actual results for one month's production of 6,952 glasses were 0.8 hours per glass, at a cost of $15 per hour. Calculate the direct labor rate variance for the month. Your answer should be to two decimal places. An unfavorable variance should be entered as a negative number while a favorable variance should be entered as a positive number