Labor Rate and Efficiency Variances Botella Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.024 hours. During the month of April, 498,000 bottles were produced using 15,500 labor hours @ $9.75. The standard wage rate is $8.75 per hour. Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches. If required, round your answers to the nearest cent. Labor rate variance Unfavorable Labor efficiency variance Unfavorable Feedback Check My Work See Cornerstone 10-6. Learning Obiective 5