The following labor standards have been established for a particular product: 4.8 hours $17.30 per hours Standard labor hours per unit of output Standard labor rate The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 5,800 hours $100,920 1,100 units Required: a. What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Omit the "5" sign in your response.) (Click to select) Labor rate variance b. What is the labor efficiency variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Omit the "$" sign in your response.) Labor efficiency variance (Click to select) 2020 McGraw-Hill Education. All rights reserved