Wilson Productions manufactured and sold 1,000 products at $11,000 each during the past year. At the beginning of the year, production had been set at 1,200 products. At the beginning of last year, Wilson Productions set direct labor standards of 20 hours at $15 per hour for each product produced. During the year, 20,500 direct labor hours were actually worked at an average cost of $16 per hour. Calculate the companys direct labor rate and efficiency variances for the year in JOURNAL ENTRY FORM