Bortello Corporation produces high quality leather boots. The company has a standard cost sitem and has set the following standards for materials and labor Leather (12 strips $20) $240 Direct labor (10 hours o $12) $120 Total prime cost $360 During the year Bortello produced 125 boots. Actual leather purchased was 1.700 strips, at sto per strip. There were no beginning or ending inventories of leather. Actual direct labor was 1,500 hours at $15 per hour Refer to Figure 10-3. Calculate the labor rate variance and the labor efficiency variance, respectively Oa. $4.500 and 53.000 U Ob. $4.500 F and $3.000 U Oc. $4.500 F and 55.000 F Od. 54.500 U and 53.000 F