Please answer requirements 2, 3, and 4 with steps. Thanks!

Elegance is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements. Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. Standard rate Actual hours 2,400 x x( Actual rate 12.00 ) = ) = DL rate variance $ 4,800 F $ 14.00 Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Standard rate X( Actual hours Standard hours allowed 2,000 = ) = DL efficiency variance $ 5,600 U 14.00 2,400 Requirement 2. What is the total variance for direct labor? (Enter the amount as a positive number. Label the variance as favorable (F) or unfavorable (U).) The total variance for direct laboris 4800 U . Standard Price and Volume Direct materials (resin). ...................... 9 pounds per pot at a cost of $6.00 . . .. . ... ............... .U T UU OL per pound Direct labor ....... 2.0 hours at a cost of $14.00 per hour Standard variable manufacturing overhead rate ....... $2.00 per direct labor hour Budgeted fixed manufacturing overhead ........ $23,000 Standard fixed MOH rate ......................... $12.00 per direct labor hour (DLH) i Actual Results Elegance allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,000 flower pots: Direct materials ..................... Purchased 10,000 pounds at a cost of $6.10 per pound; Used 9,500 pounds to produce 1,000 pots Direct labor . Worked 2.4 hours per flower pot (2,400 total DLH) at a cost of $12.00 per hour Actual variable manufacturing overhead .... $2.60 per direct labor hour for total actual variable manufacturing overhead of $6,240 Actual fixed manufacturing overhead ...... $22,500 Standard fixed manufacturing overhead allocated based on actual production ...... $24,000 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