Exercise 10-2 (Algo) Direct Labor Variances [LO10-2] Skychefs, Incorporated, prepates infight meals for a number of major alifines. One of the company's products is grilled salmon with new potatoes and mbed vegetables. During the most recent week, the compory prepared 6200 of these meals using 1,200 direct labor hours. The company paid its direct labor workers a total or $10,800 for this work, or $9.00 per hour. According to the standard cost card for this meal, it should require 020 direct labor hours at a cost of $8.50 per hour Required: 1 What is the standard labor-hours allowed (SH) to prepare 6,200 meals? 2 What is the standard labot cost ailowed (SH SR) to prepare 6,200 meais? 3. What is the labor spending varance? 4. What is the labor tate variance and the labor efficiency variance? (Forl aquirements 3 and 4 , indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for ng aft ct.e., zero variance). Input all amounts as positive values.)