Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to vlew the standards.) (Click the lcon to vlew the actual results.) Read the reouirements 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 varlance for direct labor. Standard Price and Volume Actual Results Requirements 1. Compute the direct labor rate varlance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances