Use the following information for the Quick Study below. [The following information applies to the questions displayed below.]
Mosaic Company applies overhead using machine hours and reports the following information.
Actual machine hours used (AH) 5,500 hours
Standard machine hours (for actual production) (SH) 6,100 hours
Actual variable overhead rate per hour (AVR) $ 4.55
Standard variable overhead rate per hour (SVR) $ 4.35
Total variable overhead cost variance
Compute the total variable overhead cost variance and classify it as favorable, unfavorable or no variance.