Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours for units produced this period Direct labor hours actually worked Direct labor rate variance Required: $ 30.00 12,500 12,300 $ 17,500 favorable 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 1. Standard direct labor rate per hour 2. Direct labor efficiency variance Favorable