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 $ 3.60 per hour Standard Cost $55.00 $34.00 $ 7.20 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 vat table 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 wariance Mit Choc Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance? Multiple Choice $720 F $720 0 5745 $745