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How much is the labor rate variance for August? 24. Standard Faucets uses standard costing and recorded the following data for the month of August:

How much is the labor rate variance for August?

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24. 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 How much is the labor rate variance for August? A) $0 B) $14,750 unfavorable $9,750 unfavorable $4,750 unfavorable

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