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Standard Price and Volume Country Designs is a manufacturer of large flower pots for urban settings. The company has these standards (Click the icon 10 viev the standards.) (Click the kon to vevy the actual resuls ) Read the Requirement 1. Compute the direct labor rate variance and the diect labor eflicioncy vatiance (Enter tha varlances as positive numbers Ented the currency amounts in the Directlabon Begin with the dinect labor rate veriice. First delermine the formula for the rate variance sheo compute the rate variance for direct labor Now compute the direct labor efficiency variance First determine the formula for the eficiency variance then compute the effciency variance for drect iabor. The total vekance for dirfect labor 15 Requirement 3, Whe is genetally responstie for each variance? The oopartment us responsib/t fop the labor efficiency. variance Requirement 4. interpert the varances The per hour than busgeed Country Designs 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 1300 flower pots