ConterWare is a manufacturer of large flowor pots for urban settings. The company has these standards: (Clich the ioon to view the standards:) (Click the loon to view the actual results.). Read the reduirements Requirement 1. Compute the direct labor rate vanance and the drect labor effciency variance. (Enter the variancei as posilive numbert. Entor the currency amounts in the formulas to the nearest cent, then round the final variance amounti to the nearest whole dollar Label the variance as favorable (F) or unfavorable (U). Abbrevabons used. DL=Dinect iator) Bogin with the direct laber rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. =OLratevariancey= Standard Price and Volume tive numbers. ole (F) or unfe direct labor. Actual Results CenterWare 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 1,100 flower pots: Requirements 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