Mangrum Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. Information concerning the direct labor standards for the company's only product is as follows:

$\backslash$table$[[$Inputs$,\backslash$table$[[$Standard Quantity$],[$or Hours$]],\backslash$table$[[$Standard Price or$],[$Rate$]],\backslash$table$[[$Standard$],[$Cost$]]],[$Direct labor,$0\mathrm{.}70$ hours,$$21\mathrm{.}50$ per hour,$15\mathrm{.}05]]$

During the year, the company assigned direct labor costs to work in process. The direct labor workers $($who were paid in cash$)$ worked $12,790$ hours at an average cost of $$19\mathrm{.}50$ per hour. The company calculated the following direct labor variances for the year:

$\backslash$table$[[$Labor rate variance,$$25,580F$