A company uses the following standard costs to produce a single unit of output.

Direct materials	5 pounds at $0.90 per pound =	$ 4.50
Direct labor	0.2 hour at $8.00 per hour =	$ 1.60
Manufacturing overhead	0.2 hour at $3.20 per hour =	$ 0.64

During the latest month, the company purchased and used 47,000 pounds of direct materials at a price of $1.10 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $13,072 based on 1,720 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $3,400 and fixed manufacturing overhead incurred was $12,000. Based on this information, the direct labor efficiency variance for the month was:Multiple Choice

• $2,928 favorable

• $688 favorable

• $2,240 unfavorable

• $2,240 favorable

• $688 unfavorable