Solly Corporation produces a product for national distribution. Standards for the product are: Materials:...
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Accounting
Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces per unit at 60 per ounce. Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 14,000 ounces purchased and used at a total cost of $7,700. Labor: 2,500 hours worked at a total cost of $20,625. The labor rate variance is:
Group of answer choices
$500 U
$625 F
$500 F
$625 U
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