Madrid Company has a direct labor standard of 4 hours per unit of output, and has a standard wage rate of $11.5 per hour. During February, Madrid Company paid $100,000 to employees for 9,240 hours worked, and 2,480 units were produced during that time. What is the direct labor efficiency variance? Multiple Choice $7,820 favorable $14,080 favorable $5,412 favorable $6,260 favorable