Raven applies overhead based on direct labor hours. The variable overhead standard is 4 hours at $13 per hour. During July, Raven spent $122,200 for variable overhead. 8,790 labor hours were used to produce 4,600 units. What is the variable overhead rate variance? Multiple Choice $2,320 unfavorable $7,930 unfavorable $2,320 favorable $1,160 unfavorable