small mp3 player called the Jogging Mate. The company uses standards to Erie Company manufactures a control its costs. The labor standards that have been set for one Jogging Mate mp3 player are as follows: Standard Hours 30 minutes Standard Rate per Hour $5.60 Standard Cost $2.80 During August, 10,450 hours of direct labor time were needed to make 19,400 units of the The direct labor cost totaled $57,475 for the month. Jogging Mate. Required: 1. According to the standards, what direct labor cost should have been incurred to make 19,400 units of the Jogging Mate? By how much does this differ from the cost that was incurred? (Round Standard labor time per unit to 2 decimal places.) Number of units manufactured Standard labor time per unit Total standard hours of labor time allowed Standard direct labor rate per hour Total standard direct labor cost Actual direct labor cost Standard direct labor cost Total variance -unfavorable 2. Break down the difference in cost from (1) above into a labor rate variance and a labor efficiency variance. (Indicate the offect of each variance by selecting "F" for favorable, "U" for unfavorable and "None" for no effect (i.e,zero variance). Do not round intermediate calculations) Labor rate variance Labor efficiency variance