Question: ACME company's production budget for August is 18,600 units and includes the following components unit costs; direct materials $8.00, direct labor $ 11.50, variable overhead $ 5.00. Budgeted fixed overhead is $ 43.000. Actual production in August was 19.998 units. Actual unit component costs incurred during August include direct materials $ 10.00, direct labor $ 10.50, variable overhead $ 6.00. The actual fixed overhead was $ 45.600. The standard direct labor cost per unit consists of 0.5 hour of labor time at $ 23 per hour. During August, 209,979 of actual labor cost was incurred for 9,090 direct labor hours. Calculate the labor rate variance and labor efficiency variance for August.