Fiber Oil performs oil changes. The standard wage rate for oil change technicians is $15 per hour. By analyzing its past records of time spent on oil changes, the companry has developed a standard of21 minutes (or 0.35 hours) per oil change. In Jully, 900 oil changes were performed at Fiber il Oil change technicians worked a total of 265 direct labor hours at an avcrage rate ol $17 per hour Read the requirements. Requirement 1. Calculate the direct labor rate variance. Determine the formula tor the rate variance, then compute the rate variance for the direct labor. (Enter the result as a positive number. Label the variance as lavorable (F)or unfavorable (U). Enter the currency amount in the formula to the nearest cent, then round the final variance amount to the nearest whole dollar. Abbreviations used: DL Direct labor.) x ( DL rate variance Requirements 1. Calculate the direct labor rate variance. 2. Calculate the direct labor efficiency variance. Print Done