Week 7 Chapter 10 Saved Help Save & CH 10 ! Part 10 of 10 Required Information The Foundational 15 (Static) (LO10-1, LO10-2, LO10-3] The following information applies to the questions displayed below! 10 points Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit is as follows: Skipped cBook Direct materials: 5 pounds at $8.00 per pound Direct labor: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit 540.00 28.00 18.00 $ 78. Print References The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production. b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour. c Total variable manufacturing overhead for the month was $280,500 Foundational 10-9 (Static) 9. What is the labor rate variance for March? (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance.). Input all amounts as positive values.)