A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 7 pounds at $0.70 per pound 0.40 hour at $9.00 per hour 0.40 hour at $3.70 per hour = $4.90 = $3.60 = $1.48 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.0 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $32,640 based on 3,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $11,800 and fixed manufacturing overhead incurred was $20,000. Based on this information, the direct labor rate variance for the month was: Multiple Choice $1,440 favorable $3,360 favorable $1,920 favorable $3,360 unfavorable $1,440 unfavorable