Vanderwaal Company uses a standard costing system. In August, 5, 450 actual labor hours were worked at a rate of $12.50 per hour. The standard number of hours is 5, 270 and the standard wage rate is $13.20 per hour. Determine the Labor Rate and Variance Labor Efficiency Variance. Record the related journal entries to record labor cost. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)