Beverly Company has determined a standard variable overhead rate of $$3\mathrm{.}00$ per direct labor hour and expects to incur $0\mathrm{.}50$ labor hours per unit produced. Last month, Beverly incurred $1,200$ actual direct labor hours in the production of $2,500$ units. The company has also determined that its actual variable overhead rate is $$2\mathrm{.}40$ per direct labor hour.

Required:

Calculate the variable overhead rate and efficiency variances as well as the total amount of over$-$ or underapplied variable overhead.

Variable Overhead Rate Variance $ $-720F$

Variable Overhead Efficiency Variance $ $-150F$

Over $or$ Underapplied Variable Overhead $${?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}F$ Overapplied