Candle Co, budgets 5 hours of direct labor (at $20 per hour) to make one candle. The companys labor rate variance was $20,000, favorable, while the direct labor efficiency variance was $15,000, unfavorable. During the year, CC had a great success and managed to sell 1,000 candles. The actual labor rate per hour is (Round calculations to two decimal places) :

$16.52 $23.48 $20 Cannot be determined $26