Center Ware is a manufacturer of large flower pots for urban settings. The company has these standards: em Click the icon to view the standards.) (llok the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formules to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL-Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. Actual hours Actual rate Standard rate ) = DL rate variance 7.920 14.00 15.00 $ 7,920 Now compute the direct labor efficiency variance. First determine the formule for the efficiency variance, then compute the efficiency variance for direct labor Standard rate Actual hours Standard hours allowed ) = DL efficiency variance 15.00 U Standard Price and Volume Direct materials (resin) Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate 14 pounds per pot at a cost of $3.00 per pound 4.0 hours at a cost of $15.00 per hour .... $8.00 per direct labor hour $40,200 56.00 per direct labor hour (DLH) 0 Actual Results CentarWare allocated fred manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,800 hower pots Purchased 26,860 pounds at a cost of $3.10 per pound; Direct materials used 26 460 pounds to produce 1,800 pots Worked 4.4 hours per flower pot (7.920 total DLH) at a cost Direct labor of $14.00 per hour Actual variable manufacturing $8.50 per direct labor hour for total actual variable overhead manufacturing overhead of $67,320 Actual fixed manufacturing overhead $39.600 Standard foxed manufacturing overhead allocated based on actual production $43.200 Choose from any parts remaining nswer