A job was budgeted to require three hours of labor per unit

A job was budgeted to require three hours of labor per unit at $12.50 per hour. The job consisted of 8,000 units and was completed in 23,600 hours at a total labor cost of $345,600

What is the labor rate variance?

→	$50,600 unfavorable
	$5,000 favorable
	$45,600 unfavorable
	$50,600 favorable
	$5,000 unfavorable

$345,600 - (23,600 hours x $12.50) = $50,600 unfavorable