0 Required information 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 (AR) standard machine hours (for actual production) (5) Actual variable overhead rate per hour (AVR) standard variable overhead rate per hour (R) 5.300 hours 5.750 hours 5.4.20 5.4.10 QS 23-18A Total variable overhead cost variance LO P5 Compute the total variable overhead cost variance and classify it as favorable, unfavorable or no variance Answer is complete but not entirely correct. Standard Cont Actual Cost QS 23-18A Total variable overhead cost variance LO P5 Compute the total variable overhead cost variance and classify it as favorable, unfavorable or no variance. Actual Cost SH Answer is complete but not entirely correct. Standard Cost SVR AH X AVR 4.10 5,300 $ 4.20 $ 22,260 5,750 $ $ 23,575 Total variable overhead cost variance $ 1.315 Favorable QS 23-19A Overhead spending and efficiency variances LO P5 Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable, unfavorable or no variance. Actual Cost Flexible Budget Standard Cost $ 0 0 +