Lo-bed Company produces a product that requires four standard hours per unit at a standard hourly rate of $28.00 per hour. If 4,000 units required 16,750 hours at an hourly rate of $28.40 per hour, what is the direct labor (a)rate variance, (b)time variance, and (c)cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.