Required: 1. According to the standards, what direct labor cost should have been incurred to prepare 4,000 meals? How much does this differ from the actual direct labor cost? (Round labor-hours per meal and labor cost per hour to 2 decimal places.) 4,000 0.20 800 direct labor cost per hour $ 700 $ 5,600 $ 6,000 5.600 $ 400 Number of meals prepared Standard direct labor-hours per meal Total direct labor-hours allowed Actual cost incurred 2 Break down the difference computed in (1) above into a labor rate variance and a labor efficiency variance (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable