The standard direct labor cost per reservation for Harry's Hotel is $2 (= $12 per labor-hour = 6 reservations per hour). Actual direct labor costs during the period totaled $48,240. Also during the period, 2,450 labor-hours were worked, and 12,000 reservations were made. Required: Compute the direct labor price and efficiency variances for the period. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor price variance