Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hours. During the month of April, 480,000 bottles were praduced using 13,000 labor hours$10.50 The standard wage rate is $7.50 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent Unfavorable Feedback Check My Work 1, Compute the actual costs = actual hours x actual rate 2, Compute the standard costs = (units produced x standard labor requirement per unit) x standard rate 3. Compare the two to determine if the difference is favorable or unfavorable Review the "How to Calculate the Total Variance for Labor" example in your text