of variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards fo Leather (3 strips @ $4) $12.00 Direct labor (0.75 hr. @ $12) 9.00 Total prime cost $21.00 During the first month of the year the Boise plant produced 92,000 belts. Actual leather purchased was 287,500 strips at $4.20 per strip, There were no begin labor was 30 100 hours at $14.00 per hour. Required: 1. Break down the total variance for labor into a rate variance and an efficiency variance using the columnar and formula approaches. Unfavorable Rate variance Unfavorable Efficiency variance Unfavorable Total variance if the investigation of the unfavorable variances, the plant manager interviews the production manager. The production m racks and more time