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Mosaic Company applies overhead using machine hours and reports the following information. ...

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Accounting

Mosaic Company applies overhead using machine hours and reports the following information.

Actual machine hours used (AH) 5,000 hours
Standard machine hours (for actual production) (SH) 5,500 hours
Actual variable overhead rate per hour (AVR) $ 4.30
Standard variable overhead rate per hour (SVR) $ 4.15

Compute the total variable overhead cost variance and classify it as favorable or unfavorable.

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