The following information is given for one of a company's variable expenses: The activity variance is $780 favorable. The actual amount of the expense is $8,300. The planned level of activity in the master budget is 1,000 hours. The actual level of activity is 900 hours. The budget rate per hour for this expense must be: Multiple Choice (0 O $7.80 per hour. $8.80 per hour. $7.10 per hour. 0 $8.10 per hour