Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $22 per pound and 0.30 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 120 bats is $5,520.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)