At Macaron, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $36. In July, the company produced 86 refrigeration units and incurred 2,040 labor hours at a cost of $63,240.

Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.(Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Labor Rate Variance$______ Favorable/ Neither Unfavorable nor Favorable/ Unfavorable

Labor Efficiency Variance$ ________ Neither Unfavorable nor Favorable/ Unfavorable/ Favorable