Question 1 Answer saved Marked out of 10.00 Flag question DL variances; journal entries Information on Hanley's direct labor costs for January is as follows: Actual direct labor rate $7.50 Standard direct labor hours allowed 21,600 Actual direct labor hours 24,000 Labor rate variance $13,200 Favorable a. Compute the standard direct labor rate in January. $ 0 b. Compute the labor efficiency variance in January. Note: Do not use a negative sign with your answer. Labor efficiency variance $ 0 Unfavorable c. Prepare the journal entry to accrue direct labor cost and to record the labor variances for January. Note: Record any multiple debits or any multiple credits in alphabetical order by account name. Account Work in Process Inventory Debit Credit 0 0 Labor Efficiency Variance 0 0 Labor Rate Variance 0 0 Wages Payable 0 0 To record labor variances