Cyri Or performs oit changes. The standard wage rate for ol change tectvicians is $19 per hour By aralyring its past records of time spent on ol changes, the compary has developed a standand of 12 minutes (or 020 hours) per ol change in July, 1,400 oi changes were performed at Cyrt 01 . Ol change lectricians worked a total of 275 direct labor hours at an avenge rate of $20 per haur. Read the reguirnments Requirement 1. Calculate the direct labor rate variance Dotermine the formala for the rate variance, then corroute the rate variance for the drect laber (Enter the febul as a pouitive number Laber ite variance ai tavorable (F) of untavorable (U) Ente: 1. Calculate the direct labor rate variance. 2. Calculate the direct labor efficiency variance