Exercise 10-2 (Algo) Direct Labor Variances [LO10-2] ShyChefs, Incorporated, prepares in-fight meals for a number of mojor airines: One of the company's products is grilied saimon with new potatoes and mbxed vegetables. During the most recent week, the company prepared 6,200 of these meals using 1,200 direct labor-hours. The company pald its direct labor workers a total of $10,800 for this work, or $900 per hour. According to the standard cost card for thes meal, it should require 0.20 direct labot-hours ot a cost of 58.50 per hour. Required: Required: 1. What is the standard labor-hours allowed (SH) to prepore 6,200 meals? 2. What is the standard labor cost allowed (SH * SR) to prepare 6.200 meais? 3. What is the tabor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4 , Indicate the effect of each variance by selecting "F" for favorable, "U" for untavorable, and "None" for no effect (Le., zero veriance). Input all amounts as positive volues.)