Question 25 1 pts Bay Corporation makes a product with the following standard costs: Standard Quantity Standard Price Standard Cost Per Unit Direct materials 2.3 liters $7.00 per liter $16.10 Direct labor 0.7 hours $22.00 per hour $15.40 Variable overhead 0.7 hours $ 2.00 per hour $1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for September is: 1,540 U 1,687 F O 1540 F 1.687 U Question 26 1 pts