Exercise 8-15A Determining the standard labor price LO 8-6 Perez Car Wash, Inc. expected to wash 1,000 cars during the month of August. Washing each car was expected to require 0.3 hours of labor. The company actually used 317 hours of labor to wash 960 cars. The labor usage variance was $551 unfavorable. Required a. Determine the standard labor price. b. If the actual labor rate is $12, indicate whether the labor price variance would be favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) a. Standard labor price b. Total labor price variance