6 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: 1 ints Standard Standard Standard Quantity Rate Unit Cost Variable manufacturing overhead. 0.6 $0.80 $0.48 eBook Hint Ask OF Print During August, LLL had the following actual results: Units produced and sold 24,700 Actual variable overhead $ 9,460 Actual direct labor hours Required: 15,700 Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) References Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance