The following data is given for the Taylor Company: 
Overhead is applied based on standard labor hours.
Compute the direct labor rate and time variances for Taylor Company.
Definitions:
Hours
Units of time equivalent to 60 minutes, commonly used to measure the duration of events or work periods.
Earned
Income received or generated as a result of work or investment.
Plastic Tubing
Flexible plastic pipes used for fluid transfer in various applications, including medical, laboratory, and industrial processes.
Flexible
Capable of adapting to changes and varying conditions without significant difficulty.
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