(Click the icon to view the actual results.) Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) 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. x( x( = DL rate variance Requirements Standard Price and Volume Actual Results 1. Compute the direct labor rate variance 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. Print Done Direct materials (resin). Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate... 9 pounds per pot at a cost of $4.00 per .pound Ceramics Etc. allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,400 flower pots: .2.0 hours at a cost of $20.00 per hour $5.00 per direct labor hour . $18,600 $7.00 per direct labor hour (DLH) Print Done Direct materials... Direct labor Actual variable manufacturing overhead Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production Purchased 13,620 pounds at a cost of $4.10 per pound; . used 13,020 pounds to produce 1,400 pots Worked 2.4 hours per flower pot (3,360 total DLH) at a . cost of $18.00 per hour $5.30 per direct labor hour for total actual variable .. manufacturing overhead of $17,808 $18,300 $19,600 Print Done - X