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How much is the labor rate variance for august

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Reference no: EM132528738

Standard Faucets uses standard costing and recorded the following data for the month of August:

Standard direct labor rate                              $10.00 per hour
Standard hours allowed for actual production     20,000 hours
Actual direct labor rate                                  $10.50 per hour
Labor efficiency variance                           $5,000 favorable

Question 1: How much is the labor rate variance for August?

Option 1: $0

Option 2: $14,750 unfavorable

Option 3:  $9,750 unfavorable

Option 4: $4,750 unfavorable

Reference no: EM132528738

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