The following labor standards have been established for a particular product 17 hours $14.05 per hour Standard labor hours per unit of output...... Standard labor rate............ ..... The following data pertain to operations concerning the product for the last month: 8,700 hours $50, 690 -2,300 units Actual hours worked ..... Actual total labor cost..... Actual output .... 3700- 14.05 3 685.95 What is the labor rate variance for the month? 26