Question: At Crown Point, the standard quantity of labor is 23 hours per refrigeration unit. The standard wage rate is $35. In July, the company

At Crown Point, the standard quantity of labor is 23 hours per refrigeration unit. The standard wage rate is $35. In July, the company produced 80 refrigeration units and incurred 2,000 labor hours at a cost of $68,000. Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, 14.37 and final answers to O decimal places, e.g. 125. Enter all variances as a positive number.) Labor Rate Variance Labor Efficiency Variance

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