Millonzi Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs) .The company has provided the following data for the most recent month: 
What was the variable overhead rate variance for the month?
Definitions:
Profit-Maximizing
A strategy or process by which a firm adjusts its production and pricing to achieve the highest profit possible.
Collude
To come to a secret understanding for a harmful purpose; often refers to competitors agreeing on prices or market shares to gain an advantage.
Annual Fixed Cost
Regular expenses incurred by a business or individual that do not vary with production level or output within a year.
Marginal Cost Curve
A graphical representation showing the change in total cost that comes with producing one more unit of an item.
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