M-T.M Corporation is a manufacturer of high-quality industrial equipment including power washers and generators, M.T.M has established the following labor standards: Standard labor hours per unit of output 9.6 hours Standard labor rate $ 13.40 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 7,400 hours $ 96,200 Actual total labor cost 950 units Actual output What is the labor efficiency variance for the month? Labor Rate Variance - (AR-SR) 'AH AR actual labor rate per hour SR standard labor rate per hour SH - actual hours worked abor Efficiency Variance = (AH-SH) SR Hactual hours worked 4 standard hours of labor for the actual level of production - standard labor rate per hour