The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour 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 labour cost Actual output 3,700 hours $50,690 2,300 units What was the labour rate variance for the month? $2,950 favourable. $1,295 unfavourable. $2950 unfavourable. $1,295 favourable