Rate Variance for labor=(Actual Rate - Standard Rate) x Actual Hours Efficiency Variance for labor = (Actual Hours - Standard Hours) x Standard Rate Questions 04 to are based on the following information: The following data relate to direct labor costs for February: Actual costs 7,700 hours at $14.00 per hour Standard costs 7,000 hours at $15.00 per hour What is the direct labor efficiency variance? O A. $7,700 favorable B. $10,500 unfavorable C. $7,700 unfavorable D. $10,500 favorable