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What is hassock labor efficiency variance for august

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Question 1: Hassock Corp. produces woven wall hangings. It takes 2 hours of direct labor to produce a single wall hanging. Hassock's standard labor cost is $14 per hour. During August, Hassock produced 8,000 units and used 16,140 hours of direct labor at a total cost of $222,960. What is Hassock's labor efficiency variance for August?

Option 1: $3,920 favorable.

Option 2: $1,960 favorable.

Option 3: $4,960 unfavorable.

Option 4: $1,960 unfavorable.

Option 5: $1,040 unfavorable.

Reference no: EM132527038

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