Step 1: Understanding the Concept:
The packing efficiency of a bcc structure is 68 percent, so 32 percent of the unit cell volume is void space.
Step 2: Calculation:
\[ V_{void} = 0.32\times 8.0\times 10^{-23} = 2.56\times 10^{-23}\text{ cm}^3 \]
The value \(5.44\times10^{-23}\) cm\(^3\) is the volume occupied by atoms (68 percent), so it is not the void volume.
Final Answer:
The void volume is \(2.56\times 10^{-23}\) cm\(^3\), option (D).
\[ \boxed{2.56\times 10^{-23}\text{ cm}^3} \]