Exercise 17-32 (Algo) Labor Mix and Yield Variances (LO 17-5) Matt's Eat 'N Run has two categories of direct labor: unskilled, which costs $20 per hour, and skilled, which costs $34 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 meal For the year, Matt's sold 198,000 equivalent friendly meals and incurred the following labor costs. Skilled labor Unskilled labor 6,600 hours 11,500 hours $230,800 260,200 Required: a. Compute labor price and efficiency variances. b. Compute labor mix and yield variances. Required: a. Compute labor price and efficiency variances. b. Compute labor mix and yield variances. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Compute labor price and efficiency variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Enter your answers rounded to the nearest whole dollar.) Skilled Unskilled Total $ 6,403 X U U $ Labor price variance Labor efficiency variance $ 30,245 $ 166,000 36,647 X1U 16,600 X F $ 0 F Required: a. Compute labor price and efficiency variances. b. Compute labor mix and yield variances. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Compute labor mix and yield variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Enter your answers rounded to the nearest whole dollar.) Skilled Unskilled Total Labor mix variance Labor yield variance