The standard direct labor cost per reservation for Harry's Hotel is $2 (= $14 per labor-hour 7 reservations per hour). Actual direct labor costs during the period totaled $45, 740. Also during the period, 2, 700 labor-hours were worked, and 14, 500 reservations were made. Compute the direct labor rate variance(alSO known as the price Variance) and efficiency variance for the period