Required information [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 2.00 pounds of wood at $20 per pound and 0.20 direct labor hour at $30 per hour. Overhead is assigned at the rate of $60 per direct labor hour. Issume the actual cost to manufacture 120 bats is $7,560.00. Compute the total cost variance and identify it as favorable or infavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)