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Acme Company produces a single product and uses a standard cost accounting system. For the current month, budgeted production is 3 , 5 0 0

Acme Company produces a single product and uses a standard cost accounting system. For the current month, budgeted production is 3,500 units of finished goods and budgeted direct labor costs are $117,600. Actual production is 3,350 units, actual direct labor costs are $111,850, and actual direct labor hours worked are 6,450 hours. The direct labor standard is 2.0 hours per unit of finished goods. What is the direct labor rate variance?
Group of answer choices
$1,130 Favorable
$3,490 Favorable
$2,950 Favorable
$5,750 Favorable

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