The following labor standards have been established for Product : Amount Description Standard labor hours per unit of output 16 hours Standard labor rate $12.75 per hour The following data pertain to actual operations concerning Product F for the last month: Amount Description Actual hours worked Actual total labor cost 2,620 hours $27,510 Actual output 180 units Question Select Your Answer What is the labor efficiency variance for the month? $3,315 favorable What is the labor rate variance for the month