Wolery Incorporated has provided the following data concerning one of the products in its standard cost system. The company has reported the following actual results for the product for April:
The labor rate variance for the month is closest to:

A) $2,576 Unfavorable
B) $2,816 Unfavorable
C) $2,816 Favorable
D) $2,576 Favorable

The labor rate variance formula is Actual Hours x (Actual Rate - Standard Rate)

Using the given information, we can calculate the actual rate:

Actual Cost / Actual Hours = $36,420 / 2,670 = $13.65/hr

The labor rate variance is:

2,670 x ($13.65 - $14.50) = -$2,280

Since this variance is unfavorable (negative), we need to flip the sign to get the absolute value: $2,280.

Therefore, the labor rate variance for the month is closest to option A, $2,576 Unfavorable.