Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 530,000 bottles were produced using 15,000 labor hours@ $10.00. The standard wage rate is $8.00 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. $ Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hour. During the month of April, 1,000,000 bottles were produced using 23,400 labor hours @$17.00. The standard wage rate is $15.00 per hour Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. Labor rate variance Unfavorable Labor efficiency variance $ Favorable