The following labour standards have been established for a particular product: Standard labour hours per unit of output 2.0 hours Standard labour rate $15.00 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 3,700 hours Actual total labour cost $58,000 Actual output 2,300 units What was the labour rate variance for the month? $1,295 favourable. $2,500 unfavourable. $2,950 favourable. $2950 unfavourable