Information on Engstrom”s direct labor costs for the month of August is as follows:
|
Actual rate |
$7.50 |
|
Standard hours |
11,000 |
|
Actual hours |
10,000 |
|
Direct labor price variance—unfavorable |
$5,000 |
What was the standard rate for August?
- $6.95.
- $7.00.
- $8.00.
- $8.05.