Cabot Company collected the following data regarding production of one of its products.Compute the direct labor rate variance. 
Definitions:
Work Team
A group of individuals who collaborate and work together towards a common goal, leveraging their respective skills and strengths.
Dissolution
The process of dissolving or winding up an entity or partnership, effectively ending its existence.
Partnership
A voluntary association between two or more people who co-own a business for profit.
Terminated
Ended or concluded in a legal, employment, or contractual context.
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