QUESTION 1 Figure 10-4. High Fliers Company produces model airplanes. During the month of November, it produced 2,000 planes. The actual labor hours were 7 hours per plane. Its standard labor hours are 10 hours per plane. The standard labor rate is $11 per hour. At the end of November, High Fliers found that it had a favorable labor rate variance of $10,500. Refer to Figure 10-4. What was High Fliers' total labor variance? O $61,500 F O $76,500 F O $76,500 U O $61,500 U