See Clear Company manufactures clear plastic CD cases. It applies variable overhead based on the number of machine hours used. Information regarding See Clear's overhead for the month of December follows: Standard Unit Cost $0.84 Standard Quantity Standard Rate Variable manufacturing 0.7 machine hours per case $1.20 per machine hour overhead During December, See Clear had the following actual results: Number of units produced and sold Actual variable overhead cost Actual machine hours 90,000 $78,000 62,000 Required Compute See Clear's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for Favorable/Overapplied and "U" for Unfavorable/Underapplied.) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Over- or Underapplied Variable Overhead