CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click 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 formulas 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. = DL rate variance Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. ) = DL efficiency variance = Requirement 2. What is the total variance for direct labor? (Enter the amount as a positive number. Label the variance as favorable (F) or unfavorable (U).) The total variance for direct labor is Requirement 3. Who is generally responsible for each variance? The department is responsible for the labor rate variance. The department is responsible for the labor efficiency variance. Requirement 4. Interpret the variances. The labor rate variance means that Elegance's employees earned per hour than budgeted. The labor efficiency variance means that it actually took direct labor hours than it should have to produce 1,600 pots.CenterWare is a manufacturer of large flower pots for urban setti (Click the icon to view the standards.) (Click the icon t 1. Compute the direct labor rate variance and the direct labor efficiency variance. Read the requirements. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Requirement 1. Compute the direct labor rate variance and the the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance Print Done - X Standard price and volume 8 pounds per pot at a cost of $3.00 per CenterWare allocated fixed manufacturing overhead to production based on standard direct labor Direct materials (resin) . . . . . pound hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: Direct labor. . . . . . . . . . . . 2.0 hours at a cost of $21.00 per hour Purchased 14,620 pounds at a cost of $3.50 per pound; Standard variable manufacturing overhead rate . . . . . $2.00 per direct labor hour Direct materials . . used 13,920 pounds to produce 1,600 pots Budgeted fixed manufacturing overhead . . $34,400 Worked 2.4 hours per flower pot (3,840 total DLH) at a Direct labor . . cost of $19.00 per hour Standard fixed MOH rate Iqq. . . . . . . $12.00 per direct labor hour (DLH) Actual variable manufacturing $2.40 per direct labor hour for total actual variable overhead . . . . . . . . . . manufacturing overhead of $9,216 Actual fixed manufacturing overhead $33,700 Standard fixed manufacturing Print Done overhead allocated based on actual production. . . . . . . . . . . . . . . . . . . . . .. . $38,400 The labor efficiency variance means that it actually took V direct labor hours than it shot