Exercise 10-2 (Algo) Direct Labor Varlances [LO10-2] Shychefs, Incorporated, prepares in-flight meals for a number of major airtines. One of the company's products is grilled salmon with hew potatoes and mixed vegetables. Duting the most recent week, the company prepared 6,200 of these meals using 1,200 direct abor-hours. The company paid its ditect labor workers a total of $10,800 for this work, or $9,00 per hour. According to the standard cost card for this meal, it should require 0.20 direct labor thours at a cost of $8.50 per hour. Required: What is the standord iobor-hours allowed (SH) to prepare 6,200 meals? 2. Whot is the standard labor cost allowed (SH . SR) to prepare 6,200 meals? 3. What is the labor 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 unfavorable, and "None" for po effect (i.e., zero variance), Input all amounts as positive values.)