Which of the following is the correct mathematical representation of direct labor rate variance (LRV) ?
A. Direct labor rate variance = (Actual hourly wage rate - Standard hourly wage rate) * Actual direct labor hours used
B. Direct labor rate variance = (Standard direct labor hours allowed - Actual direct labor hours used) * Standard hourly wage rate
C. Direct labor rate variance = Actual hourly wage rate - Standard hourly wage rate
D. Direct labor rate variance = Standard direct labor hours allowed - Actual direct labor hours used
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