DL variances; journal entries Information on Hanleys direct labor costs for January is as follows:

Actual direct labor rate	$7.50
Standard direct labor hours allowed	23,400
Actual direct labor hours	26,000
Labor rate variance	$14,300	Favorable

a. Compute the standard direct labor rate in January. $Answer b. Compute the labor efficiency variance in January. Note: Do not use a negative sign with your answer. Labor efficiency variance $AnswerAnswerFavorableUnfavorableNeither favorable or unfavorable c. Prepare the journal entry to accrue direct labor cost and to record the labor variances for January. Note: Record any multiple debits or any multiple credits in alphabetical order by account name.