Racer Oil performs oil changes. The standard wage rate for oil change technicians is $19 per hour. By analyzing its past records of time spent on oil changes, the company has developed a standard of 12 minutes (or 0.20 hours) per oil change. In July, 1,500 oil changes were performed at Racer Oil. Oil change technicians worked a total of 290 direct labor hours at an average rate of $25 per hour. Read the requirements Requirement 1. Calculate the direct labor rate variance. (Enter the result as a positive number, rounded to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) The direct labor rate variance is U Requirement 2. Calculate the direct labor efficiency variance. (Enter the result as a positive number, rounded to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) The direct labor efficiency variance is F Y