Grand Display is a manufacturer of large flower pols for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements. Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor DL rate variance * Actual Results x Standard Price and Volume 12 pounds per pot at a cost of $5.00 per Direct materials (resin) pound Direct labor.... 2.0 hours at a cost of $11.00 per hour Standard variable manufacturing overhead rate ..... $6.00 per direct labor hour Budgeted fixed manufacturing overhead $18,000 Standard fixed MOH rate. $7.00 per direct labor hour (DLH) Grand Display allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,500 flower pots: Purchased 19,400 pounds at a cost of $5.20 per pound; Direct materials. used 18,900 pounds to produce 1.500 pots Worked 2.3 hours per flower pot (3,450 total DLH) at a Direct labor... ...... cost of $10,00 per hour Actual variable manufacturing $6.70 per direct labor hour for total actual variable overhead ........................., manufacturing overhead of S23,115 Actual fixed manufacturing overhead $17,400 Standard fixed manufacturing overhead allocated based on actual production.... $21,000 Print Done Print Done Choose from any liat or enter any number in the input fields and then click Check Answer. 5 parts remaining Clear All Check