Your company produces, among other things, a ceramic statue of the Cheshire Cat of Alice in Wonderland fame. During the previous month 3,000 statues were both started and completed. The standard costs for producing Cheshire Cat are the following: raw materials - 1/2 pound @ $4 per pound; labor - 15 minutes @ $12 per hour Accounting records show that 1600 pounds of raw materials costing $6,000 were purchased and used. Also, direct labor amounting to $9750 for 750 hours was spent. Question 9 Not yet answered Points out of 7.00 Not flaggedFlag question Question text Using the information given above, calculate the two labor variances. Please show your work and label the results favorable or unfavorable.