Assume Near and Far Burgers has two categories of direct labor: unskilled, which has a standard cost of $6 per hour, and skilled, which has a standard cost of $10 per hour. Management established standards per ‘‘equivalent meal,’’ which it has defined as a typical meal consisting of a sandwich, a drink, and a side order. Managers set standards as follows: skilled labor, 6 minutes per equivalent meal; unskilled labor, 15 minutes per equivalent meal. During July, Near and Far Burgers sold 10,000 equivalent meals and incurred the following actual labor costs:

Skilled Labor: 900 Hours..................................................................... $ 9,600

Unskilled Labor: 2,300 Hours............................................................... 14,000

Compute labor price and efficiency variances.