The following data is given for the Walker Company:

Budgeted production 1,000 units

Actual production 980 units Materials:

Standard price per lb $2.00

Standard pounds per completed unit 12

Actual pounds purchased and used in production 11,800

Actual price paid for materials $23,000 Labor:

Standard hourly labor rate $14 per hour

Standard hours allowed per completed unit 4.5

Actual labor hours worked 4,560

Actual total labor costs $62,928

Overhead: Actual and budgeted fixed overhead $27,000 Standard variable overhead rate $3.50 per standard labor hour Actual variable overhead costs $15,500 Overhead is applied on standard labor hours.

What is the direct labor rate variance?