3 Question 3 (5 Points) If the actual hours of producing 10,000 units of product (C) were 20,000 hours, and the company estimation for the same amount of units was 30,000 hours according to the flexible budget. Instruction: calculate the labor variances if the actual rate was $5 and the budget one was $8: 1- Price variance: (1 point) 2- Efficiency variance: (1 point) 3- Total variance: (1 point)

Question 3 (5 Points) If the actual hours of producing 10,000 units of product (C) were 20,000 hours, and the company estimation for the same amount of units was 30,000 hours according to the flexible budget. Instruction: calculate the labor variances if the actual rate was $5 and the budget one was $8 : 1- Price variance: (1 point) 2- Efficiency variance: (1 point) 3- Total variance: (1 point)