Final Exam 20 of 22 Sharp Pens Lid. manufactures pens. In order to make one pen 6 minutes are set as standard direct labour time required. Actual direct labour time is less than the standard time by 1.20 minute. The labour cost is $15 per hour set as standard whereas actual labour rate is K $15.30 per hour. The company actually manufactured 20000 pens in a week. Calculate the total labour variance and the labour price variance for the week. Also mention whether it is favourable (F) or unfavourable (U). 1) total labour variance: $ Write F or U. 1) labour price variance: $ Write