The following labor standards have been established for a particular product: Standard labor hours per unit of output Standard labor rate 4.7 hours $17.40 per hours The following data pertain to operations concerning the product for the last month 5,900 hours Actual hours worked Actual total labor cost Actual output $103,250 1,200 units Required a. What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "O" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Labor rate variance (Click to select) 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 "O" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance) Omit the "$" sign in your response.) Labor efficiency variance (Click to select)