Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $11.00 per hour. During February, Madrid Co. paid $100,200 to employees for 9,230 hours worked. 2,480 units were produced during February. What is the direct labor rate variance? Multiple Choice $7.590 favorable $482 favorable $1,330 favorable $8,920 favorable