Final answer:
The direct labor rate variance for March is calculated by subtracting the standard labor rate from the actual labor rate and multiplying it by the actual hours worked.
Step-by-step explanation:
The direct labor rate variance for March can be calculated by subtracting the standard labor rate from the actual labor rate and multiplying it by the actual hours worked. The formula for calculating the direct labor rate variance is:
Direct Labor Rate Variance = (Actual Rate - Standard Rate) * Actual Hours
For example, if the standard rate is $10/hr and the actual rate is $12/hr, and the actual hours worked is 500, the direct labor rate variance would be:
Direct Labor Rate Variance = ($12 - $10) * 500 = $1000