Fanderson Corporation makes a product with the following standard costs: DirectmaterialsDirectlaborVariableoverheadStandardQuantityorHours8.5kilos0.4hours0.4hoursStandardPriceorRate$6.00perkilo$20.00perhour$6.00perhour The company reported the following results concerning this product in August. Actual output Raw materials used in production 3,200 units Purchases of raw materials 29,030kilos Actualdirectlabor-hours31,600kilos1,160hours Actual cost of raw materials purchases $195,920 Actual direct labor cost $22,736 Actual variable overhead cost $7,540 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor rate variance for August is: Multiple Choice The labor rate variance for August is: Multiple Choice $464F $512U $464U $512F