SC Ltd uses a standard cost system and prepared the following budget for May when 25,000 machine hours of activity were anticipated: Variable overhead: $45,000 Fixed overhead: $220,000 Actual data for May were: Standard machine hours allowed for output attained: 24,000 hours Actual machine hours worked: 23,000 hours Variable overhead incurred: $48,000 Fixed overhead incurred: $235,000 The standard variable overhead rate for May is O $1.88. O $2.09. O $2.00. O $1.80. O $1.96