(Appendix) Apex Mechanical Systems is a mechanical engineering firm. The firm employs both engineers and draftspeople. The average hourly rates are $40 for engineers and $20 for draftspeople. For one project, the standard was set at 750 hours of engineer time and 1,250 hours of draftsperson time. Actual hours worked on this project were:LO1

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Engineers 1,000 hours at $42.50 per hour Draftspeople-1,000 hours at $21.00 per hour Determine the labor rate, mix, and yield variances for this project.