Chapter 21 Homework i Saved Help Save & Exit Submit Check my work 4 1.42 points Required information {The following information applies to the questions displayed below.] Mosaic Company applies overhead using machine hours and reports the following information. cBook Print Actual machine hours used (AH Actual variable overhead rate per hour (AVR) Standard variable overhead rate per hour (SVR) (sh) 4,700 hours 5,000 hours $ 4.15 $ 4.00 References Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable or unfavorable. Actual Cost Flexible Budget Standard Cost