M9-10 (Algo) Calculating Direct Labor Cost Variances [LO 9-4] Paradise Corporation has determined a standard labor cost per unit of $21 (0.50 hours * $42 per hour). Last month, Paradise incurred 968 direct labor hours, for which it paid $24,926. The company produced and sold 2,400 units during the month. Required: Calculate the direct labor rate, efficiency, and spending variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places. Direct Labor Rate Variance Direct Labor Efficiency Variance $ 8,360 F Total Direct Labor Spending Variance $ 22,367 F