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Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $12.00 per hour. During February, Madrid Co. paid $100,300 to employees for 9,240 hours worked. 2,430 units were produced during February. What is the direct labor rate variance? Multiple Choice $9,732 favorable $10,580 favorable $16,340 favorable $5,760 favorable