A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. Variable manufacturing overhead standards are based on machine-hours. Standard hours per unit of output 5.40 machine-hours Standard variable overhead rate $11.67 per machine-hour The following data pertain to operations for the last month: Actual hours 8,900 machine-hours Actual total variable manufacturing overhead cost $95,880 Actual output 1,500 units What is the variable overhead rate variance for the month?