Venus Company applies overhead based on direct labor hours. The variable overhead standard is 10 hours at $3.50 per hour. During Octo hours were used to produce 4,800 units. What is the variable overhead efficiency variance? Multiple Choice $10.400 fovorable $8.440 favorable 51,960 unfavorable $1,960 fovorable d standard is 10 hours at $3.50 per hour. During October, Venus Company spent $158,924 for variable overhead, and 47.440 labor lance