Rueda Company produces wheels for bicycles. During the year, 657,000 wheels were produced. The actual labor used was 362,000 hours at $9.60 per hour. Rueda has the following labor standards: 0.46 hour at $10.00. Required: Please enter all values as a positive amount. 1. Compute the labor rate variance. fill in the blank 1 of 1$ Favorable 2. Compute the labor efficiency variance. fill in the blank 1 of 1$ Unfavorable