Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at $21.0 per hour. During July, Raven spent $1,236,700 for variable overhead. 58,380 labor hours were used to produce 4,900 units. What is the variable overhead efficiency variance? Multiple Choice O O $8.820 favorable $1,123,080 favorable $10,720 favorable $10,720 unfavorable

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.