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SkyChets, Incorporated, prepares in-fight meals for a number of major airtines. One of the company's...

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SkyChets, Incorporated, prepares in-fight meals for a number of major airtines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 7,200 of these meals using 3,500 direct labor-hours. The company pald its direct labor workers a total of $31,500 for this work, or $9.00 per hour: According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $8.50 per hour: Required: 1. What is the standard labor-hours allowed (SH) to prepare 7,200 meals? 2. What is the standard labor cost allowed (SH SR) to prepare 7,200 meals? 3. What is the labor spending varlance? 4. What is the labor rate variance and the labor efficlency variance? (For requirements 3 and 4 , Indlcate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (L.e, zero varlance). Input all amounts os positive values.)

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