You have been given the following information about the production of Waterway Co., and are asked to provide the factory manager with information for a meeting with the vice-president of operations: Standard Cost Card $18.56 3.52 Direct materials (5.80 kg at $3.20 per kilogram) Direct labour (0.80 hours at $4.40) Variable overhead (0.80 hours at $3.20 per hour) Fixed overhead (0.80 hours at $7.00 per hour) 2.56 5.60 $30.24 The following is a production report for the most recent period of operations: Varlances Spending/ Quantity Budget Efficiency Total Standard Cost Costs Price/Rate Volume $397.184 $6,354 F $9.472 U 75,328 3,702 U 6.116 U Direct materials Direct labour Variable overhead Fixed overhead 54.784 $1.250 F ? 119.840 480 F $14.000 U What was the actual variable overhead cost incurred during the period? $ Actual variable overhead