Madrid Company has a direct labor standard of $4$ hours per unit of output, and a standard wage rate of $$11\mathrm{.}50$ per hour. During February, Madrid Company

paid $$100,000$ to employees for $9,240$ hours worked, and $2,480$ units were produced during that time. What is the direct labor rate variance?

Note: Do not round your intermediate calculations.

Multiple Choice

$$5,412$ favorable

$$7,820$ unfavorable

$$6,260$ favorable

$$14,080$ favorable