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E9-13 (Algo) Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: During August, LLL had the following actual results: Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied varial overhead Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U unfavorable, and "None" for no effect (i.e., zero variance)