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Assume the following information appears in the standard cost card for a company that makes...

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Accounting

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Assume the following information appears in the standard cost card for a company that makes only one product: Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours 5 pounds 2 hours 2 hours Standard Price or Rate $11.00 per pound $17.00 per hour $ 4.30 per hour Standard Cost $55.00 $34.00 $ 8.60 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance? Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance? Multiple Choice $860 F $860 U $885 U $885 F

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