The following labor standards have been established for a particular product: Standard labor hours per unit of output 2.8 hours Standard labor rate $11.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,900 hours Actual total labor cost $80,385 Actual output 2,300 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? Solution (Please show work/calculations): a. Labor rate variance = b. Labor efficiency variance =