Check my work mode: This shows what is correct or incorrect for the work you have completed 30 d. LUULETUL Exercise 17-32 (Static) Labor Mix and Yield Variances (LO 17-5) Matt's Eat 'N Run has two categories of direct labor: unskilled, which costs $10 per hour, and skilled, which costs $20 per hour. Management has established standards per "equivalent friendly meal," which has been defined as a typical meal consisting of a hamburger, a drink, and french fries. Standards have been set as follows. Skilled labor Unskilled labor 2 minutes per equivalent meal 6 minutes per equivalent mea For the year, Matt's sold 180,000 equivalent friendly meals and incurred the following labor costs. Skilled labor Unskilled lab 6,000 hours 15,000 hours $125,000 240,000 Required: a. Compute labor price and efficiency variances. b. Compute labor mix and yield variances