The following data relate to direct labor costs for February: 
What is the direct labor time variance?
Definitions:
Rate of Return
The advancement or decline in an investment’s worth over a stipulated period, framed as a percentage of the original investment amount.
Par Value
The face value of a bond or a stock as stated by the issuing company, which does not necessarily match the market value.
Annual Dividend
The total amount of dividends a shareholder receives per share within a year.
Market Rate
The prevailing interest rate available in the marketplace for securities or loans of a similar risk and maturity profile.
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