Dirickson Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. 
The company has reported the following actual results for the product for July:
The labor rate variance for the month is closest to:
Definitions:
Illegal Offer
A proposal to enter into an agreement that is against the law and therefore unenforceable.
Rescission
The legal act of canceling, revoking, or terminating a contract, returning all parties to their original positions prior to the contract.
Securities Act of 1933
A U.S. law enacted to ensure more transparency in financial statements so investors can make informed decisions about investments.
Securities Exchange Act of 1934
A U.S. federal law regulating the secondary trading of securities (stocks, bonds, and debentures) to protect investors against malpractice.
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