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Actual hours used 5,500; Standard hours allowed 5,800; Actual labor rate $14.75 per hour; and Standard labor rate $14.00 per hour. The labor rate variance is Blank______.

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ayokenny2001

The labor rate variance is $4,200 Favorable.

What is labor rate variance?

The labor rate variance is what shows the difference between the labor cost expended and the cost to be spent on labor.

Labor rate variance is computed as:

= Standard labor rate * ( Actual hours used - Standard hours allowed)

= $14.00 x ( 5,800 - 5,500)

= $14.00 * 300

= $4,200

Hence, the labor rate variance is $4,200 Favorable.

Learn more about labor rate variance here : https://brainly.com/question/15850958

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