Manufacturing overhead data for the production of Product H by Concord Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 66,560 actual direct labor hours worked Overhead rate (variable $3; fixed $2) at normal capacity of 69,120 direct labor hours Standard hours allowed for work done $336,640 $5 66,560 Compute the total overhead variance. Total overhead variance $ 1280 Favorable