The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 2.8 hours $11.50 per hour The following data pertain to operations conceming the product for the last month: Actual hours worked Actual total labour cost Actual output Required: 6.900 hours $80.385 2.300 units a) What was the labour rate variance for the month (price variance)?2 marks b) What was the labour efficiency variance for the month (quantity variance)? 2 marks