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Use the following information for questions 52 - 54 ToolTime has a standard of 3 hours of labor per unit, at $12 per hour. In product units, ToolTime used 700 hours of labor at a total cost of $8,120. 52. ToolTime's total labor variance is a. $160 F. b. S280 F. c. $1,030 F. d. $120 U. 53. ToolTime's labor price variance is a. $770 U. b. $160 F. e. S280 F. d. $120 U. 54. ToolTime's labor quantity variance is a. $160 F. b. $280 F. c. $1,800 F. d. $120 U