Shepard Industries produced 4,000 tables last month. The standard variable manufacturing Requirements overhead (MOH) rate used by the company is $24 per machine hour. Each table requires 0.3 1. Calculate the variable overhead rate variance. machine hours. Actual machine hours used last month were 1, 170, and the actual variable 2. Calculate the variable overhead efficiency variance. MOH rate last month was $22.00. Requirement 1. Calculate the variable overhead rate variance. Begin by determining the formula for the variable overhead rate variance, then compute the variable overhead rate variance. (Enter the variance as a positive number. Enter amounts in the formula to the nearest cent and then the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) Variable overhead rate variance Requirement 2. Calculate the variable overhead efficiency variance. Begin by determining the formula for the variable overhead efficiency variance, then compute the variable overhead efficiency variance. (Enter the variance as a positive number. Enter amounts in the formula to the nearest cent and then the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) Variable overhead efficiency variance Choose from any list or enter any number in the input fields and then continue to the next