Tak Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL - Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor > = DL rate variance Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, the compute the efficiency variance for direct labor 1)- DL efficiency variance Requirement 2. What is the total variance for direct labor? (Enter the amount as a positive number. Label the variance as favorable (F) or unfavorable (U).) The total variance for direct laboris Requirement 3. Who is generally responsible for each variance? department is responsible for the laborate variance. The department is responsible for the labor efficiency variance Requirement 4. Interpret the variances The S l abor rate variance means that Groovy Bottles' employees eamed per hour than budgeted. The labor efficiency variance means that it actually took direct labor hours than it should have to produce 1,100 pots. Choose from any list or enter any number in the input fields and then continue to the next question Standard Price and Volume et labor Direct materials (resin).. 14 pounds per pot at a cost of $3.00 per pound 2.0 hours at a cost of $12.00 per hour is the unfe Direct labor direct 1 Standard variable manufacturing s gene overhead rate Budgeted fixed manufacturing overhead. Standard fixed MOH rate .. . $2.00 per direct labor hour $16,600 $8.00 per direct labor hour (DLH) ret the Print Done or rate Center Ware 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 1,100 flower pots: Direct materials ... Purchased 16,760 pounds at a cost of $3.40 per pound; Used 16,060 pounds to produce 1,100 pots Direct labor Worked 2.4 hours per flower pot (2,640 total DLH) at a cost of $11.00 per hour Actual variable manufacturing overhead .... . $2.70 per direct labor hour for total actual variable manufacturing overhead of $7,128 Actual fixed manufacturing overhead ....... $15,900 Standard fixed manufacturing overhead allocated based on actual production..... $17,600 Print Done