Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mote are as follows: Standard Standard Rate Standard Hours per Hour Cost 30 minutes $5.60 $2.80 During August 10,300 hours of direct labor time were needed to make 19.400 units of the Jogging Mate. The direct labor cost totaled $55,620 for the month Required: 1. What is the standard labor hours allowed (SH) to makes 19,400 Jogging Mates? 2. What is the standard labor cost allowed (SH SR) to make 19,400 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.30 per direct labor hour. During August, the company incurred $49.440 in varlable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (ie. zero vorionce). Input allomounts os positive values. Do not round intermediate calculations.) 1 Standard labor hours alowed 2. Standard labor costalowed 3. Labor spending vanco 4 Labor rate Venance