Questions Pagley Company's standard labour cost of produong one unit of product DO 3.45 hours at the rate of $14.70 per hour. During August 47.570 hours of bowed of $15.00 per hour produce 13,400 units of product DD. Calculate the labour price and quantity variances, assuming the standard is 3.70 hours of direct labour at $15.20. per hour Labour price variance: Favourable 30552 Favourable Labour quantity variance