A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 5 pounds at $0.90 per pound 0.60 hour at $10.00 per hour 0.60 hour at $3.80 per hour = = $4.50 $6.00 $2.28 During the latest month, the company purchased and used 48,000 pounds of direct materials at a price of $11 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,969 based on 5,770 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $18.800 and fixed manufacturing overhead incurred was $11,000. Based on this information, the direct labor rate variance for the month was: Multiple Choice $2,300 favorable 5:06 PM Check my work o ( ) $2,300 favorable o $4,031 favorable o $1731 favorable o $4,031 unfavorable o $2,300 unfavorable 5:07 PM 1