The following data are given for Taylor Company

The following data are given for Taylor Company: Budgeted production Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used In production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actuat total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs Overhead is applied based on standard labor hours. 1,000 units 980 units $2.00 11,800 $23,000 $14.00 per hour 4.5 4,560 $62,928 $27,000 $3.50 per standard labor hour $15,500 Compute the direct labor rate and time variances for Taylor Company. Enter favorable variances as negative numbers. Direct labor rate variance Direct labor time variance Favorable unfavorable