Assume the following information appears in the standard cost card for a company that makes only one product: Direct materials Direct labor Variable manufacturing overhead Standard Quantity or hours 5 pounds 2 hours 2 hours Standard Price or Rate $11.00 per pound $18.60 per hour $ 3.00 per hour Standard Cost $55.00 $37.20 $ 6.00 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. . All of the material that was purchased was used to produce 3,900 units. . 8,000 direct labor-hours were recorded at a total cost of $132,000. es What is the direct labor rate variance? Multiple Choice $16,800 F $16,800 U $8,400 U $8.400 F