Fletcher Company collected the following data regarding production of one of its products. Compute the direct labor efficiency variance. $12.40/hr.) Direct labor standard (3.00 hrs. Actual direct labor hours Actual finished units produced Actual cost of direct labor $ 37.20 per finished unit 80,500 hrs. 26,600 units $1,000,520 O $8,680 favorable. $11,000 favorable. $2,320 favorable. ( ) $8,680 unfavorable. O $11,000 unfavorable