Reincarnation Bicycle Company manufactures commuter bicycles from recycled materials. The following data for April of the current year are available:
Quantity of direct labor used ..........................1,530 hrs.
Actual rate for direct labor ............................$17.00 per hr.
Bicycles completed in April .......................... 500
Standard direct labor per bicycle ..................... 3 hrs.
Standard rate for direct labor ........................ $17.50 per hr.