For the month of April, what conclusions can you draw from the materials (price and efficiency) and labor variances (labor rate and efficiency)? Material Variance Labor Variance Price Actual Material cost $18,490 Labor rate Actual cost 15675 Actual Quantity at standard price $19,350 Actual hours at standard cost 16500 Direct Material Price Variance $-860 Favorable Direct labor rate variance -825 Favorable Quantity Actual Quantity at Standard price $19,350 Efficiency Standard rate at actual hours 16500 Standard quantity at standard price $20,250 Standard rate at std. hours 13500 Direct Material Quantity Variance $-900 Favorable Efficiency variance 3000 Unfavorable Total Material variance $-1,760 Favorable Total Labor variance 2175 Unfavorable