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Ravena Labs., Inc. makes a single product which has the following standards Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at

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Ravena Labs., Inc. makes a single product which has the following standards Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October 3,750 units of compound were produced during the month. . There was no beginning direct materials inventory . Direct materials purchased: 12.000 ounces for $225,000 The ending direct materials inventory was 2,000 ounces . Direct labor-hours worked: 5,600 hours at a cost of $67.200 . Variable manufacturing overhead costs incurred amounted to $18.200 Variable manufacturing overhead applied to products: $18,375 The labor efficiency variance for October is Multiple Choice $1.400 Favorable $1.900 Unfevorable $3 750 Fevoreble 54 375 Unfevoreble

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