Information regarding Maxwell's direct labor ost for the month of January follows: Direct labor hourly rate paid Total standard direct labor-hours for units produced this period Direct labor-hours worked Direct labor rate variance $30.00 12,500 12,300 $17,500 favorable Required: 1. Compute the standard direct labor wage rate per hour in January. (Round your final answer to two decimal places.) Standard direct labor rate per hour 2. Compute the direct labor efficiency variance. (Round your standard direct labor rate per hour to two decimal places and your final answer to the nearest whole dollar amount.) Direct labor efficiency variance