Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Alvarez Company for the current period shows a $31,000 favorable volume variance and a $59,900 unfavorable controllable variance. Standard overhead applied for the period is $221,000. QS 21-17 (Algo) Components of overhead variance LO P4 a. What is the actual total overhead cost incurred for the period? b. What is the total overhead variance and is it favorable or unfavorable