Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 4,900 machine-hours. Budgeted and actual overhead costs for the month appear below: Original Budget Based on 4,900 Machine-Hours Actual Costs Variable overhead costs: Supplies $ 12,040 $ 13,130 Indirect labor 44,800 45,850 Fixed overhead costs: Supervision 21,000 20,640 Utilities 7,200 7,200 Factory depreciation 8,200 8,510 Total overhead cost $ 93,240 $ 95,330 The company actually worked 5,000 machine-hours during the month. The standard hours allowed for the actual output were 4,990 machine-hours for the month. What was the overall variable overhead efficiency variance for the month? Multiple Choice $440 Favorable $116 Unfavorable $310 Favorable $437 Favorable