MC Qu. 345 A manufacturing company that has only...

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	4.90	machine-hours
Standard variable overhead rate	$11.55	per machine-hour

The following data pertain to operations for the last month:

Actual hours	8,400	machine-hours
Actual total variable manufacturing overhead cost	$95,960
Actual output	1,600	units

What is the variable overhead rate variance for the month?