Answer:
The correct answer is letter "A": the standard rate exceeds the actual rate.
Explanation:
The labor rate variance represents the difference between the actual rate of labor and the projected rate of labor. It is calculated by subtracting the standard rate from the actual rate of labor and the result is multiplied by the actual hours worked. If the variance is favorable, the standard rate is greater than the actual labor rate. If the variance is unfavorable, the actual rate is greater than the standard rate.
