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 or Hours 5 pounds 2 hours 2 hours Standard Price or Rate $11.00 per pound $17.00 per hour $ 3.00 per hour Standard Cost $55.00 $34.00 $ 6.00 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. 8,000 direct labor-hours were recorded at a total cost of $132,000. The direct labor efficiency variance is $3,400 U. What is the standard quantity of labor hours allowed for the actual level of output? Multiple Choice 7,800 hours 8,200 hours 8,000 hours U O 7,600 hours