James Incorporated's flexible budget for June, based upon actual output, called for the use of 11,000 pounds of materials at a standard cost of $7.90 per pound. The Production Department actually used 11,200 pounds of materials costing $7.60 per pound during June. What is James's materials price variance for June? $3,300unfavorable$3,300favorable$3,360unfavorable$3,360favorable 19 of 20 What is the calculation of the labor EFFICIENCY variance? Standard Hourly Rate (Standard Hours - Actual Hours) Standard Hours (Standard Rate - Actual Rate) Actual Hours ( Standard Rate - Actual Rate) Actual Rate (Standard Hours - Actual Hours)