Question - The Laramie Corporation manufactures Product X that consumes a large amount of overhead. For the month of October Laramie produced 15,250 units of Product X and incurred actual variable overhead costs of $375,000. The standard costs developed for Product X by Laramie follow:
Standard direct labor hours per unit: 2
Standard direct labor rate per hour: $15.00
Standard variable overhead hours per unit: 6
Standard variable overhead rate per hour: $5.50
What was the total variable overhead variance for Product X in October?