Standard Price and Volume Elegance 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 1,700 flower pots: Ronu iroments Requirements 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. hole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) egin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. (()=DLratevariance)= Elegance is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements