exercise 10-2 (Static) Direct Labor Variances [LO10-2] SkyChefs, incorporated, prepares in flight meals for a number of major airlin es. Ohe of the cortpany's products is grilled saimon with new potatoes and mised vegetables. Duting the most recent week, the company prepared 4,000 of these meals using 960 direct labor hours. The company paid its direct labor workers a total of $19200 for this work or $20.00 per hour. According to the standard cost card for this meal, it should require 025 direchaborthours at a cost of 57975 per hour. Required: 1. What the standard labor-hours allowed (SH) to prepare 4,000 meats? 2. What is the standard labor cost allowed (SH x.5 S ) to prepare 4.000 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the Labor efficiency variance 3 (For requirements 3 and 4 , indicate the effect of each variance by selecting "Fil for fovorable, "u" for unfovorable, end "Nona" fhe. no effect (lie, zero variance). Input oll nmounts as nosivive values