The following labor standards have been established for a particular product:
The following data pertain to operations concerning the product for the last month:
Required:a. What is the labor rate variance for the month?b. What is the labor efficiency variance for the month?

a. Labor rate variance = (Actual hours × Actual rate) − (Actual hours × Standard rate)= ${{[v(4)]:#,###}} − ({{[v(3)]:#,###}} hours × ${{[v(2)]:#,###.00}} per hour)= ${{[v(4)]:#,###}} − ${{[v(11)]:#,###}}= ${{[v(6)]:#,###}} Unfavorableb. Standard hours = Standard hours per unit × Actual output= {{[v(1)]:#,###.0}} hours per unit × {{[v(5)]:#,###}} units= {{[v(8)]:#,###}} hoursLabor efficiency variance = (Actual hours − Standard hours) × Standard rate= ({{[v(3)]:#,###}} hours − {{[v(8)]:#,###}} hours) × ${{[v(2)]:#,###.00}} per hour= {{[v(12)]:#,###}} hours × ${{[v(2)]:#,###.00}} per hour= ${{[v(9)]:#,###}} Unfavorable