Assume the standard variable overhead rate is $5.20 per machine hour, each unit has a standard time allowed of 3.00 machine hours, and the static budget was based on 46,000 units. If actual units produced were 42,000, actual machine hours worked were 120,000, actual variable overhead incurred was $600,000, the variable overhead spending variance is: O $24,000 favorable. O $24,000 unfavorable. O $31,200 favorable. O $31,200 unfavorable. O None of the answers is correct