36 Part 1 of 2 2.5 points Required information [The following information applies to the questions displayed below.] Mosaic Company applies overhead using machine hours and shows the following information. Actual hours of machine use Standard hours of machine use (for actual production) Actual variable overhead rate per machine hour Standard variable overhead rate per machine hour 4,900 hours 5,450 hours $ 5.00 $ 4.85 02:01:33 Compute the variable overhead variance and identify it as favorable or unfavorable. Actual Cost Standard Cost 37 Part 2 of 2 5 points 02:01:24 Required information [The following information applies to the questions displayed below.] Mosaic Company applies overhead using machine hours and shows the following information. Actual hours of machine use Standard hours of machine use (for actual production) Actual variable overhead rate per machine hour Standard variable overhead rate per machine hour 4,900 hours 5,450 hours $ 5.00 $ 4.85 Compute the variable overhead spending variance and the variable overhead efficiency variance and identify each as favorable or unfavorable. Actual Cost Flexible Budget Standard Cost