Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Requirements 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances.14 pounds per flowerpot at a cost of \$5.00 per pound5.0 hours per flowerpot at a cost of \( \$ 19.00 \) per hourPurchased 29,900 pounds at a cost of \$5.20 per pound; used 29,400 pounds to produce 2,000 flowerpotsWorked 5.3 hours per flowerpot ( 10,600 total DLH) at a cost of \( \$ 18.00 \) per hour\$7.30 per direct labor hour for total actual variable manufacturing overhead of \$77,380Standard fixed manufacturing overhead allocated based on actual production Print 11