A company produced 2,200 units of output during a production process that normally requires 2 hours of labor per unit of output. The standard labor rate is $16 per hour, the company paid $15 per hour. Actual hours needed to complete the production process were 4,600. How much was the labor rate variance? O $4,400 unfavorable O $4,600 favorable O $4,400 favorable O $4,600 unfavorable