Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit is as follows: Direct mat i S pounds at $10 per pound niret labore hours at 016 por hou Variable overhead 4 hours at 07 per hour Total standard cost per unit 50 64 28 $142 The planning budget for March was based on producing and selling 20.000 units. However, during March the company actually produced and sold 24,600 units and incurred the following costs. M a. Purchased 164,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production b. Direct laborers worked 57,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $653,220. Foundational 10-9 9. What is the labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable and "None for no effect (.e., zero variance.). Input all amounts as positive values.)