Exercise 9-5 Direct Labor Variances [LO9-5) SkyChefs, Inc, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,800 of these meals using 2.,350 direct labor-hours. The company paid its direct labor workers a total of $23,500 for this work, or $10.00 per hour According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $9.40 per hour Required: 1. What Is the standard labor-hours allowed (SH) to prepare 4,800 meals? 2. What is the standard labor cost allowed GH-SR) to prepare 4,000 meals? 3. What is the labor spending variance? 4. What is the labor rate varlance and the labor eficiency varlance? (For requirements 3 and 4, Indicate the effect of each varlance by selectling "F* for favorable, "U for unfavorable, and "None" for no efflect (e, zero varlance). Input all amounts as positive values. Do not round Intermediate calculations Labor spending variance Prev 50' 12 Next > MacBook Air 6 N M ommand command