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 hour The following data pertain to operations concerning the product for the last month: Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)