ASSIGNME Exercises 8-21 Variable overhead, variance analysis. Ostrich Enterprise is a small production firm that operates in Sweden. The company produces meatballs for canteens. During June 2020, the standard variable overhead has been budgeted as follows: Budgeted variable overhead for the period Budgeted volume of production for the period 40,000 krona 80,000 units Actual variable overheads incurred during the period, which are under review, amounted to 56,000 krona, whereas the actual production were 96,000 units. Calculate the variable overhead variance.