Response to the following problem:
Using standard costing what is labor rate variance?
Actual cost of direct material purchased and used: $115,010
' Material price variance: $6,510 unfavorable
' Total materials variance: $28,510 unfavorable
' Standard cost per pound of material: $5
' Standard cost per direct labor-hour: $8
' Actual direct labor-hours: 6,320 hours
' Labor efficiency variance: $4,800 favorable
' Standard number of direct labor-hours per unit of Roff: 2 hours
' Total labor variance: $1,008 unfavorable.