2. Masters Inc. makes golf bags. Its labor standards are as follows: Standard quantity of hours per bag: 2 hours Standard rate per hour: $14 They planned to make 25,000 bags in April but actually made 30,000. Their labor efficiency variance was $70,000 F. a) How many actual hours did they work? b) If their actual rate was $15 per hour, then what was their labor rate variance? c) Provide 2 potential explanations for their labor rate variance?