16 value 3.00 points The following labor standards have been established for a particular product 89 hours Standard labor-hours per unit of output Standard labor rate $15.95 per hour The following data pertain to operations concerning the product for the last month Actual hours worked 11,000 hours $173,030 Actual total labor cost 1,650 units Actual output What is the labor rate variance for the month? O $2,420 F O $363 U O $2,420 U O $363 F