Fluegge 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 December:
The labor efficiency variance for the month is closest to:
Definitions:
Required Rate
The minimum annual percentage return that an investment must yield to be considered a viable option, often based on risk level, inflation, and alternative investment opportunities.
Stock Worth
The current market value of a company's shares.
Constant Rate
A fixed rate applied over a period of time, often used in the context of growth rates or interest rates.
Preferred Stock
A class of ownership in a corporation that has a higher claim on its assets and earnings than common stock. Preferred shareholders typically receive dividends before common shareholders and have priority in the event of a liquidation.
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