The Litton Company has established standards as follows: Direct material 3 lbs. @ $4/1b. = $12 per unit Direct labor 2 hrs. @ $8/hr. = $16 per unit Variable manuf. Overhead 2 hrs. @ $5/hr. = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. Units produced 600 Direct material used 2,000 lbs. Direct material purchased (3,000 lbs.) $11,400 Direct labor cost (1,100 hrs.) $ 9,240 Variable manuf, overhead cost incurred $5,720 The company applies variable manufacturing overhead to products on the basis of dinthewhere Question 28 (5 points) The labor efficiency variance is: 1) $800 F. O2) $800 U. 3) $840 F. 4) $840 U. Question 29 (5 points) The variable overhead spending variance is: 1) $240 U. 2) $220 U. 3) $220 F 4) $240 F The variable overhead efficiency variance is: 1) $520 F 2) $520 u. 3) $500 U. 4) $500 F