Viger Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHS). The company has provided the following data for the most recent month: Budgeted level of activity Actual level of activity 8,500 MHs 8,700 MHs Standard variable manufacturing overhead rate Actual total variable manufacturing overhead What was the variable overhead rate variance for the month? $7.20 per MH $60,200 Multiple Choice $1,426 Favorable $1,000 Favorable $1,440 Unfavorable $2,440 Favorable