The Standard Cost of Labour for Product Y Is £15

Multiple Choice

The standard cost of labour for Product Y is £15 per unit of production. The results for February show an unfavourable direct labour rate variance of £500 and a favourable direct labour efficiency variance of £700. Actual production for February was 2,500 units of Product Y. What was the actual direct labour cost of Product Y for February?

A) £37,300
B) £37,500
C) £37,700
D) £38,700