The fоllоwing lаbоr stаndаrds have been established for a particular product:Standard labor hours per unit of output4.0 hoursStandard labor rate$ 17.70 per hourThe following data pertain to operations concerning the product for the last month:Actual hours worked7,600 hoursActual total labor cost$ 135,280Actual output1,800 unitsRequired: a. What is the labor efficiency variance for the month? (3 pts) b. Label the variance unfavorable (U) or favorable (F). (1 pt)Show all the numbers you use for the calculations and label the variance either U or F.