Required information [The following information applies to the questions displayed below.] Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.32 per micron Direct labor: 1.2 hours per toy at $71 per hour During July, the company produced 5,300 Maze toys. Production data for the month on the toy follow: 74,000 microns were purchased at a cost of $0.3 per micron. 34,250 of these microns were still in inventory at the end of the month 6,860 direct labor-hours were worked at a cost of $52,822. Direct materials: Direct labor: Compute the direct labor rate and efficiency variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., your response.) variance). Input all amounts as positive values. Omit the "$" sign in zero $ Labor rate variance (Click to select) 4 $ Labor efficiency variance (Click to select)