The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 1.7 hours $14.05 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 3,700 hours $50,690 2,300 units What is the labor rate variance for the month? O $1.295 F O $4.246 U O $4.246 F O $2.877 F