Hiram Company makes one product, for which it has developed the following standard for labor: each unit should require 1.50 hours at $12/hour. In April, Hiram made 10,000 units, using 1,35 hours per unit at a cost of $12.50 per hour. Required: (a) Determine the total labor variance and indicate whether it is favorable or unfavorable (b) Determine the labor price variance and indicate whether it is favorable or unfavorable. (c) Determine the labor usage variance and indicate whether it is favorable or unfavorable. Add up your answers to (b) and (c). Do they equal (a)? They should. 171