RoadRunner, Inc. manufactures custom-ordered diploma frames. Its standard cost information follows: The company had the following actual results for the last year: (a) What is the company’s Direct Materials Price Variance? (b) What is the company’s Direct Materials Quantity Variance? (a) What is the company’s Direct Labor Rate Variance? (b) What is the company’s Direct Labor Efficiency Variance? Write a brief paragraph (approximately 5 sentences) that interprets the results you observe for the Direct Labor variances. Explain your observations as if you were address your boss and interpret your findings for him/her. What might have occurred at the company that would cause such results? Your response should be typed as part of your answer, use proper English, grammar, spelling, etc.