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Simmons Industries produced 2,000 tables last month. Requirements The standard variable manufacturing overhead (MOH) 1. Calculate the variable overhead rate variance. rate used by the company is $24 per machine hour. Each 2. Calculate the variable overhead efficiency table requires 0.4 machine hours. Actual machine hours variance. used last month were 770 , and the actual variable MOH rate last month was $25.00. 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 fin: variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).)