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:
Industry Analysis
The review and evaluation of the current condition and future prospects of a particular industry sector.
Strategic Forces
External and internal factors that influence an organization's strategy, direction, and actions to achieve its goals.
Information Technology
The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.
Mission Statement
A formal summary of the aims and values of a company, organization, or individual, providing a clear direction and purpose.
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