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 Standard variable manufacturing overhead rate Actual total variable manufacturing overhead 8,700 MHS 8,900 MHS $ 7.40 per MH $63,360 What was the variable overhead rate variance for the month? Multiple Choice O $1.424 Favorable o C) $1,020 Favorable o 0 $1,480 Unfavorable o o $2,500 Favorable