QUESTION 5 Trendy T's Corporation manufactures t-shirts, which is its only product. The standards for t-shirts are as follows: Standard direct labor cost per hour Standard direct labor hours per t-shirt $22 0.4 During the month of January, the company produced 1050 t-shirts. Related production data for the month follows: Actual direct labor hours Actual direct labor cost incurred What is the direct labor rate variance for the month? $7040 favorable $7040 unfavorable $1480 unfavorable $1480 favorable 740 $14,800