or Hours or Rate $34.00 Assume the following information appears in the standard cost card for a business that makes only one product: Standard Quantity Standard Price Standard Cost Direct materials 5 pounds $11.00 per pound $55.00 Direct labor 2 hours $17.00 per hour Variable manufacturing overhead 2 hours $ 3.00 per hour $ 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 All of the material that was purchased was used to produce 3,900 units . 8,000 direct lobor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000 Assuming a business uses direct labor hours to compute its predetermined overhead tate, what is the varlable overhead spending variance? Multiple Choice O $1,000 U O $1,600 F $1,000 F O $1,600 U