The following data have been provided by Montis Corporation: 
Required:
Compute the variable overhead rate variances for lubricants and for supplies.Indicate whether each of the variances is favorable (F) or unfavorable (U).Show your work!
Definitions:
Utility
In economics, it refers to the total satisfaction received from consuming a good or service.
Consumption
The act of using goods and services for personal needs or wants, including the process by which these goods and services are acquired.
Satisfaction
The feeling of pleasure or fulfillment that comes from meeting a desire, expectation, or goal.
Marginal Utility
The additional satisfaction or benefit received by consuming one more unit of a good or service.
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