Assume the following information appears in the standard cost card for a company that makes only one product Direct materials Direct labor Variable manufacturing overhead Standard Quantity Standard Price or Standard or Hours. Rate 5 pounds $11.00 per pound 2 hours $ 17.00 per hour 2 hours $ 4.50 per hour Cost $ 55.00 $ 34.00 $ 9.00 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance? Multiple Choice