Chapter 10 Open-Ended Assignment Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. Flake's Cheese Company produces gourmet cheese for resale at local grocery stores. Flake's expected to use 0.70 direct labor hours to produce one unit (batch) of product at a cost of $12 per hour. Actual results are in for last year, which indicates 40,000 batches of cheese were sold. The company's direct labor workforce worked 24,500 hours at $11.25 per hour. Required: A. Calculate the labor rate variance. B. Calculate the labor efficiency variance. Your answers to this open-ended assignment should be placed in the space below this line. A B