[The following information applies to the questions displayed below.] 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 material: 4 pounds at $9.00 per pound $ 36.00 Direct labor: 3 hours at $16.00 per hour 48.00 Variable overhead: 3 hours at $8.00 per hour 24.00 Total standard variable cost per unit $ 108.00 The company also established the following cost formulas for its selling expenses: Fixed Cost per Month Variable Cost per Unit Sold Advertising $ 230,000 Sales salaries and commissions $ 270,000 $ 14.00 Shipping expenses $ 4.00 The planning budget for March was based on producing and selling 28,000 units. However, during March the company actually produced and sold 33,000 units and incurred the following costs: a. Purchased 165,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. b. Direct-laborers worked 87,000 hours at a rate of $17.00 per hour. c. Total variable manufacturing overhead for the month was $729,060. d. Total advertising, sales salaries and commissions, and shipping expenses were $233,000, $729,060, and $144,000, respectively.

8.	What is the direct labor rate variance for March?