At Munchies, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $34. In July, the company produced 79 refrigeration units and incurred 2,120 labor hours at a cost of $74,200. 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		$enter labour rate variance in dollar amount$________		select an option ---> Unfavorable, Favorable, Neither Unfavorable nor Favorable?
Labor Efficiency Variance		$enter labour efficiency in dollar amount $ ___________		select an option -----> Unfavorable, Favorable, Neither Unfavorable nor Favorable?