Mosaic Company applies overhead using machine hours and reports the following information.

Actual machine hours used (AH)4,900hoursStandard machine hours (for actual production) (SH)5,400hoursActual variable overhead rate per hour (AVR)$4.40Standard variable overhead rate per hour (SVR)$4.30

Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable, unfavorable or no variance.

Required information Use the following information for the Quick Study below. [The following Information applies to the questions displayed belo w] Mosaic Company applies overhead using machine hours and reports the following information. Actual machine hours used (AH) 4,900 hours Standard machine hours (for actual production) (SH) 5'4\" hours Actual variable overhead rate per $ 4 46 hour (AVRI ' Standard variable overhead rate per $ 4 33 hour (SVR) ' OS 23-19A Overhead spending and efficiency variances LO P5 Compute the variable overhead spending variance and the variable overhead efciency variance and classify each as favorable, unfavorable or no variance