Required information [The following information applies to the questions displayed below.] Mosaic Company applies overhead using machine hours and shows the following information. Compute the variable overhead variance and identify it as favorable or unfavorable. Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $81 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)