Multiple Choice Question ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the labor efficiency variance. O $14,400 U O $10,000 U O $14,400 F J) O $10,000 F

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ \$1.00 per pound; Direct labor: 1 hour @ \$10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the labor efficiency variance. $14,400 $10,000 $14,400F $10,000F ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ \$1.00 per pound; Direct labor: 1 hour @ \$10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the labor efficiency variance. $14,400 $10,000 $14,400F $10,000F