Gremminger Incorporated makes a single product-a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the output of the period. Data concerning the most recent year appear below Budgeted variable manufacturing overhead Budgeted hours $70,350 35,000 labor-hours Actual variable manufacturing overhead Actual hours $72,624 27,200 labor-hours The variable overhead rate variance is: Multiple Choice Prey 6 of 20E Next>